Freestone Grove Partners LP Makes New $401,000 Investment in Tri Pointe Homes, Inc. (NYSE:TPH)

Freestone Grove Partners LP purchased a new position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,068 shares of the construction company's stock, valued at approximately $401,000.

A number of other large investors also recently modified their holdings of TPH. Covestor Ltd raised its stake in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after buying an additional 335 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock valued at $49,000 after acquiring an additional 613 shares during the last quarter. Assetmark Inc. boosted its holdings in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Tri Pointe Homes by 729.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock worth $75,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock worth $81,000 after purchasing an additional 1,900 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock traded up $0.43 during mid-day trading on Wednesday, hitting $31.08. 1,547,606 shares of the company were exchanged, compared to its average volume of 885,392. Tri Pointe Homes, Inc. has a 12-month low of $27.90 and a 12-month high of $47.78. The company has a market capitalization of $2.82 billion, a P/E ratio of 6.43, a PEG ratio of 0.67 and a beta of 1.34. The business's 50 day simple moving average is $31.01 and its two-hundred day simple moving average is $35.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.25. The company had revenue of $720.79 million for the quarter, compared to analyst estimates of $713.65 million. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm's quarterly revenue was down 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Seaport Res Ptn upgraded Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer lowered their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Evercore ISI lowered their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $38.00 to $43.00 in a research report on Monday, April 28th. Three 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.60.

Insiders Place Their Bets

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the sale, the chief executive officer now directly owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This trade represents a 16.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Tri Pointe Homes Company 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.