Bayforest Capital Ltd Boosts Stake in Tri Pointe Homes Inc. $TPH

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 raised its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 1,799.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,660 shares of the construction company's stock after acquiring an additional 29,046 shares during the quarter. Bayforest Capital Ltd's holdings in Tri Pointe Homes were worth $979,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Xponance Inc. raised its holdings in Tri Pointe Homes by 5.0% in the 1st quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock worth $226,000 after acquiring an additional 336 shares during the last quarter. Federated Hermes Inc. raised 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 acquiring an additional 430 shares during the last quarter. Captrust Financial Advisors raised its holdings in 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 acquiring an additional 586 shares during the last quarter. Elevated Capital Advisors LLC raised its holdings in Tri Pointe Homes by 9.3% in the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock worth $225,000 after acquiring an additional 599 shares during the last quarter. Finally, Numerai GP LLC raised its holdings in Tri Pointe Homes by 5.0% in the 4th quarter. Numerai GP LLC now owns 15,262 shares of the construction company's stock worth $553,000 after acquiring an additional 723 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH traded down $1.04 during midday trading on Friday, hitting $35.32. The company had a trading volume of 608,159 shares, compared to its average volume of 841,914. 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 cap of $3.20 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.99 and a beta of 1.27. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $46.91. The company has a fifty day moving average of $34.09 and a two-hundred day moving average of $32.10.

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

Tri Pointe Homes announced that its board has approved a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI decreased their price objective on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wedbush reiterated an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Finally, 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. One 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.80.

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.