41,299 Shares in Tri Pointe Homes Inc. $TPH Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP acquired 41,299 shares of Tri Pointe Homes Inc., valued at approximately $1,318,000, during the first quarter, indicating increased institutional interest in the stock.
• Tri Pointe Homes reported earnings of $0.77 per share for the last quarter, surpassing analyst estimates of $0.66, though its quarterly revenue saw a significant 22.3% decrease compared to the previous year.
• The company's Board of Directors has approved a $50 million share buyback program, which suggests they believe the company's shares are currently undervalued.

Caxton Associates LLP purchased a new position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 41,299 shares of the construction company's stock, valued at approximately $1,318,000.

Several other large investors have also recently made changes to their positions in TPH. Smartleaf Asset Management LLC raised its position in shares of Tri Pointe Homes by 56.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after acquiring an additional 757 shares in the last quarter. CWM LLC raised its position in shares of Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after acquiring an additional 1,534 shares in the last quarter. Covestor Ltd raised its position in shares of Tri Pointe Homes by 327.8% in the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock worth $124,000 after acquiring an additional 2,976 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Tri Pointe Homes in the 1st quarter worth $202,000. Finally, Elevated Capital Advisors LLC raised its position in shares of Tri Pointe Homes by 9.3% in the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock worth $225,000 after acquiring an additional 599 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Stock Performance

Shares of TPH traded down $1.04 during mid-day trading on Friday, reaching $35.32. The company had a trading volume of 608,159 shares, compared to its average volume of 841,914. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.20 billion, a P/E ratio of 8.99, a PEG ratio of 0.99 and a beta of 1.27. The stock has a 50 day moving average of $34.09 and a two-hundred day moving average of $32.10.

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

Tri Pointe Homes announced that its Board of Directors has approved a share repurchase program on Thursday, July 24th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on TPH. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, Evercore ISI reduced their target price on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

About Tri Pointe Homes

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.