Tri Pointe Homes Inc. $TPH Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its stake in Tri Pointe Homes by 1,799.6%, owning 30,660 shares valued at $979,000, marking a substantial investment in the construction company.
• Tri Pointe Homes reported earnings of $0.77 EPS for the last quarter, exceeding analysts’ expectations, but its revenue fell 22.3% compared to the previous year.
• The company's board has authorized a share buyback plan of $50 million, indicating a belief that its shares are undervalued, while institutional investors own 97.01% of the company's stock.

Bayforest Capital Ltd grew its stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 1,799.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,660 shares of the construction company's stock after buying an additional 29,046 shares during the quarter. Bayforest Capital Ltd's holdings in Tri Pointe Homes were worth $979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake 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 valued at $67,000 after buying an additional 757 shares during the period. CWM LLC lifted its stake in Tri Pointe Homes by 67.8% during 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 lifted its stake in Tri Pointe Homes by 327.8% during 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. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Tri Pointe Homes during the first quarter worth approximately $202,000. Finally, Elevated Capital Advisors LLC lifted its stake in Tri Pointe Homes by 9.3% during the first quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock worth $225,000 after purchasing an additional 599 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

TPH has been the subject of several recent analyst reports. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Evercore ISI decreased their target price 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. Finally, Wedbush reiterated an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH traded down $1.04 during trading on Friday, reaching $35.32. The company had a trading volume of 608,159 shares, compared to its average volume of 841,914. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.99 and a beta of 1.27. 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 stock's fifty day moving average price is $34.09 and its 200 day moving average price is $32.09. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data 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. 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 analyst estimates of $810.77 million. During the same quarter in the prior year, the company posted $1.25 earnings per share. Tri Pointe Homes's quarterly revenue was down 22.3% on a year-over-year basis. As a group, equities research analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its Board of Directors has authorized a share buyback program on Thursday, July 24th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.