Quantbot Technologies LP Has $6.67 Million Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Quantbot Technologies LP boosted its holdings in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 562.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,238 shares of the construction company's stock after purchasing an additional 124,998 shares during the period. Quantbot Technologies LP owned about 0.16% of Tri Pointe Homes worth $6,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in shares of Tri Pointe Homes by 260.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company's stock valued at $64,216,000 after buying an additional 1,024,425 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company's stock valued at $52,816,000 after acquiring an additional 115,099 shares during the period. Millennium Management LLC increased its stake in shares of Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company's stock worth $34,475,000 after purchasing an additional 114,244 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tri Pointe Homes by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company's stock valued at $34,135,000 after purchasing an additional 31,041 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Tri Pointe Homes by 0.8% during the third quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company's stock worth $32,874,000 after purchasing an additional 6,079 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Shares of TPH traded down $0.98 during midday trading on Tuesday, reaching $43.64. 711,715 shares of the stock were exchanged, compared to its average volume of 888,802. The stock's 50 day simple moving average is $43.26 and its 200 day simple moving average is $41.59. The company has a market cap of $4.08 billion, a P/E ratio of 9.26, a PEG ratio of 0.69 and a beta of 1.60. Tri Pointe Homes, Inc. has a twelve month low of $28.74 and a twelve month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the company earned $0.76 EPS. The business's revenue was up 34.9% on a year-over-year basis. On average, sell-side analysts expect that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on TPH. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 price target for the company in a report on Tuesday, September 17th. Royal Bank of Canada dropped their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, Wedbush reaffirmed a "neutral" rating and set a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.75.

Insider Activity at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares of the company's stock, valued at $3,798,869.76. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.