Taylor Morrison Home Corporation (NYSE:TMHC) Shares Sold by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC significantly reduced its stake in Taylor Morrison Home Corporation by 61.4%, selling 20,977 shares and holding 13,209 shares valued at $820,000.
• Various institutional investors have modified their holdings in Taylor Morrison Home, with Inspire Advisors LLC increasing its stake by 88.2%.
• Multiple analysts have given mixed ratings for Taylor Morrison Home, with a consensus rating of "Buy" and a target price averaging $76.88.

Bryce Point Capital LLC cut its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 61.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,209 shares of the construction company's stock after selling 20,977 shares during the period. Bryce Point Capital LLC's holdings in Taylor Morrison Home were worth $820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Inspire Advisors LLC raised its holdings in shares of Taylor Morrison Home by 88.2% in the first quarter. Inspire Advisors LLC now owns 12,725 shares of the construction company's stock worth $764,000 after buying an additional 5,963 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Taylor Morrison Home by 10.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,976 shares of the construction company's stock worth $2,040,000 after buying an additional 3,304 shares during the period. Assetmark Inc. raised its holdings in shares of Taylor Morrison Home by 2.9% in the first quarter. Assetmark Inc. now owns 783,185 shares of the construction company's stock worth $47,022,000 after buying an additional 22,265 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of Taylor Morrison Home by 3.5% in the first quarter. Avantax Advisory Services Inc. now owns 5,891 shares of the construction company's stock worth $354,000 after buying an additional 201 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of Taylor Morrison Home by 23.4% in the first quarter. Royce & Associates LP now owns 201,383 shares of the construction company's stock worth $12,091,000 after buying an additional 38,190 shares during the period. 95.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TMHC has been the topic of several research reports. Bank of America initiated coverage on Taylor Morrison Home in a report on Monday, May 5th. They set a "buy" rating and a $70.00 price objective on the stock. Wall Street Zen downgraded Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. BTIG Research set a $75.00 price objective on Taylor Morrison Home and gave the stock a "buy" rating in a report on Wednesday, April 16th. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Finally, Barclays set a $69.00 price objective on Taylor Morrison Home and gave the stock an "overweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Taylor Morrison Home has an average rating of "Buy" and a consensus price target of $76.88.

Taylor Morrison Home Stock Performance

Shares of NYSE TMHC traded down $0.33 during trading on Thursday, reaching $59.59. 535,817 shares of the company traded hands, compared to its average volume of 1,069,249. The firm's fifty day simple moving average is $60.41 and its 200 day simple moving average is $60.52. The stock has a market cap of $5.98 billion, a P/E ratio of 6.89 and a beta of 1.57. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.08. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business earned $1.86 EPS. Taylor Morrison Home's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

About Taylor Morrison Home

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.