Y Intercept Hong Kong Ltd Makes New $792,000 Investment in Tri Pointe Homes Inc. (NYSE:TPH)

Key Points

• Y Intercept Hong Kong Ltd acquired 24,811 shares of Tri Pointe Homes Inc. (NYSE:TPH) valued at approximately $792,000 during the first quarter.
• Tri Pointe Homes announced a $50 million share buyback plan, indicating a belief by the board that the company's shares are undervalued.
• The company reported a net margin of 9.22% for the latest quarter, with a decrease in revenue of 22.3% compared to the same quarter last year.

Y Intercept Hong Kong Ltd purchased a new stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 24,811 shares of the construction company's stock, valued at approximately $792,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its stake in Tri Pointe Homes by 54.8% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock valued at $40,061,000 after buying an additional 444,153 shares in the last quarter. Jennison Associates LLC lifted its stake in Tri Pointe Homes by 74.8% in the 1st quarter. Jennison Associates LLC now owns 61,965 shares of the construction company's stock valued at $1,978,000 after buying an additional 26,515 shares in the last quarter. Bailard Inc. lifted its stake in Tri Pointe Homes by 18.0% in the 1st quarter. Bailard Inc. now owns 21,633 shares of the construction company's stock valued at $691,000 after buying an additional 3,300 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Tri Pointe Homes by 8.8% in the 1st quarter. Victory Capital Management Inc. now owns 333,422 shares of the construction company's stock valued at $10,643,000 after buying an additional 26,836 shares in the last quarter. Finally, CWM LLC lifted its stake in Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after buying an additional 1,534 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

TPH stock traded up $0.01 during mid-day trading on Tuesday, reaching $31.65. The company's stock had a trading volume of 251,418 shares, compared to its average volume of 1,022,758. The company's 50 day moving average is $31.64 and its two-hundred day moving average is $32.34. The stock has a market cap of $2.87 billion, a PE ratio of 8.05, a P/E/G ratio of 0.82 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $47.07.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $884.01 million for the quarter, compared to analysts' expectations of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%. The firm's quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. Equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has initiated a stock repurchase program on Thursday, July 24th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on TPH shares. Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday. Wall Street Zen downgraded shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a report on Saturday. Wedbush reiterated an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday. Finally, Evercore ISI cut their price objective on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

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.