Tri Pointe Homes, Inc. (NYSE:TPH) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 23.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,114,358 shares of the construction company's stock after buying an additional 210,810 shares during the quarter. Assenagon Asset Management S.A. owned about 1.21% of Tri Pointe Homes worth $35,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tri Pointe Homes by 9.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,472 shares of the construction company's stock valued at $307,000 after purchasing an additional 700 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Tri Pointe Homes by 15.3% in the 4th quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company's stock valued at $2,448,000 after purchasing an additional 8,948 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Tri Pointe Homes by 0.5% in the 4th quarter. Rhumbline Advisers now owns 295,722 shares of the construction company's stock valued at $10,723,000 after purchasing an additional 1,553 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Tri Pointe Homes by 15.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 50,340 shares of the construction company's stock valued at $1,825,000 after purchasing an additional 6,707 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Tri Pointe Homes by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company's stock valued at $17,626,000 after purchasing an additional 16,380 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPH. Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $38.00 to $43.00 in a research note on Monday, April 28th. Oppenheimer lowered their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Evercore ISI lowered their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tri Pointe Homes presently has an average rating of "Moderate Buy" and a consensus price target of $41.60.

Insider Buying and Selling

In related news, CEO Douglas F. Bauer sold 120,287 shares of Tri Pointe Homes stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the transaction, the chief executive officer now directly owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. The trade was a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Tri Pointe Homes Price Performance

Shares of TPH traded up $0.38 during mid-day trading on Monday, hitting $30.75. The company's stock had a trading volume of 858,533 shares, compared to its average volume of 912,512. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $30.50 and a 200 day simple moving average of $33.51. The firm has a market capitalization of $2.79 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.67 and a beta of 1.24. Tri Pointe Homes, Inc. has a 1-year low of $27.90 and a 1-year high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.45 by $0.25. The business had revenue of $720.79 million during the quarter, compared to analysts' expectations of $713.65 million. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company's quarterly revenue was down 21.5% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. Analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

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.