Algert Global LLC Sells 97,326 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• Algert Global LLC has reduced its stake in Tri Pointe Homes by 27.9%, now holding about 251,538 shares worth $8,029,000 after selling 97,326 shares this quarter.
• Tri Pointe Homes recently reported earnings of $0.77 per share for the quarter, exceeding analysts' expectations, but has experienced a 22.3% year-over-year revenue decline.
• The company has initiated a $50 million share buyback plan, indicating management's belief that the stock is undervalued.

Algert Global LLC decreased its stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 27.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,538 shares of the construction company's stock after selling 97,326 shares during the quarter. Algert Global LLC owned about 0.28% of Tri Pointe Homes worth $8,029,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in shares of Tri Pointe Homes by 729.5% in 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 during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tri Pointe Homes by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock worth $130,000 after purchasing an additional 1,445 shares during the last quarter. CWM LLC raised its stake in shares of Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after purchasing an additional 1,534 shares during the last quarter. Covestor Ltd raised its stake in shares of Tri Pointe Homes by 327.8% in the first quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock worth $124,000 after purchasing an additional 2,976 shares during the last quarter. Finally, Hancock Whitney Corp raised its stake in shares of Tri Pointe Homes by 8.3% in the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock worth $210,000 after purchasing an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Wall Street Analyst Weigh In

TPH has been the subject of several recent analyst reports. Evercore ISI decreased their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Wall Street Zen cut Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Wedbush reiterated an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Tri Pointe Homes has a consensus rating of "Moderate Buy" and an average target price of $40.80.

Tri Pointe Homes Price Performance

Shares of TPH stock traded up $1.8850 during mid-day trading on Friday, hitting $36.1550. The company had a trading volume of 1,536,842 shares, compared to its average volume of 1,200,628. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91. The stock's 50 day moving average price is $32.88 and its 200-day moving average price is $31.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market capitalization of $3.28 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.93 and a beta of 1.22.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating 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 company had revenue of $884.01 million during the quarter, compared to analyst estimates of $810.77 million. During the same period in the prior year, the company earned $1.25 earnings per share. The firm's revenue was down 22.3% on a year-over-year basis. Equities research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has approved a share repurchase plan on Thursday, July 24th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.