Caxton Associates LLP Takes $1.32 Million Position in Tri Pointe Homes Inc. $TPH

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 acquired a new position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 41,299 shares of the construction company's stock, valued at approximately $1,318,000.

Several other institutional investors and hedge funds have also made changes to their positions in TPH. Captrust Financial Advisors boosted its position in shares of Tri Pointe Homes by 8.5% in the 4th quarter. Captrust Financial Advisors now owns 7,517 shares of the construction company's stock worth $273,000 after buying an additional 586 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Tri Pointe Homes by 35.2% in the 4th quarter. Deutsche Bank AG now owns 199,406 shares of the construction company's stock worth $7,230,000 after buying an additional 51,937 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Tri Pointe Homes by 131.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 177,959 shares of the construction company's stock worth $6,453,000 after buying an additional 101,180 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Tri Pointe Homes by 7.6% in the 4th quarter. Janus Henderson Group PLC now owns 42,376 shares of the construction company's stock worth $1,536,000 after buying an additional 3,000 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Tri Pointe Homes by 68.5% in the 4th quarter. Lazard Asset Management LLC now owns 87,846 shares of the construction company's stock worth $3,184,000 after buying an additional 35,725 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Tri Pointe Homes Stock Down 1.0%

NYSE TPH traded down $0.37 on Monday, reaching $34.90. The company had a trading volume of 188,308 shares, compared to its average volume of 1,022,645. The firm has a market capitalization of $3.16 billion, a PE ratio of 8.88, a P/E/G ratio of 0.95 and a beta of 1.27. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The firm has a 50-day moving average of $34.09 and a 200-day moving average of $32.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $884.01 million during 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%.Tri Pointe Homes's quarterly revenue was down 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. On average, equities research analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has authorized a share buyback program on Thursday, July 24th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

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.