8,500 Shares in Tri Pointe Homes Inc. $TPH Bought by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC acquired a new position in Tri Pointe Homes, purchasing 8,500 shares valued at approximately $272,000 during the 2nd quarter.
• Tri Pointe Homes reported $0.77 EPS for the last quarter, exceeding analysts' expectations of $0.66, alongside a revenue of $884.01 million, which was also above the consensus estimate.
• The company's board has initiated a $50 million share repurchase program, indicating a belief that the stock is undervalued amidst a current market cap of $3.14 billion.

Highland Capital Management LLC acquired a new position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,500 shares of the construction company's stock, valued at approximately $272,000.

Other hedge funds also recently modified their holdings of the company. Xponance Inc. raised its position in Tri Pointe Homes by 5.0% during the first quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock valued at $226,000 after buying an additional 336 shares during the period. GAMMA Investing LLC lifted its position in shares of Tri Pointe Homes by 19.6% in the second quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company's stock worth $76,000 after buying an additional 389 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Tri Pointe Homes by 0.8% in the 1st quarter. Federated Hermes Inc. now owns 55,975 shares of the construction company's stock worth $1,787,000 after purchasing an additional 430 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Tri Pointe Homes by 1.7% in the second quarter. QRG Capital Management Inc. now owns 32,326 shares of the construction company's stock worth $1,033,000 after buying an additional 545 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in Tri Pointe Homes by 4.8% during the first quarter. Inspire Investing LLC now owns 12,652 shares of the construction company's stock valued at $404,000 after acquiring an additional 575 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Stock Up 1.5%

Shares of Tri Pointe Homes stock opened at $34.67 on Monday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $46.91. The stock has a market cap of $3.14 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.94 and a beta of 1.30. The business has a fifty day simple moving average of $34.33 and a 200 day simple moving average of $32.35.

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

Tri Pointe Homes announced that its board has initiated a share 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TPH shares. Evercore ISI reduced their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Wolfe Research downgraded Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Wall Street Zen upgraded shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tri Pointe Homes in a report on Saturday, September 27th. Finally, Wedbush restated an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.25.

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.

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