Clark Capital Management Group Inc. Sells 254,860 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Clark Capital Management Group Inc. has reduced its holdings in Taylor Morrison Home Corporation by 33.9%, selling 254,860 shares and retaining 496,508 shares valued at approximately $29.8 million.
• Insider transactions indicate a decrease in ownership for both CEO Sheryl Palmer, who sold 25,000 shares, and CFO Curtis Vanhyfte, who sold 9,754 shares, reflecting negative sentiment among company executives.
• Recent reports show differing ratings for TMHC, with one firm downgrading it from "buy" to "hold," while another upgraded it from "hold" to "strong buy," resulting in a consensus rating of "buy" among analysts.

Clark Capital Management Group Inc. lessened its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 33.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 496,508 shares of the construction company's stock after selling 254,860 shares during the period. Clark Capital Management Group Inc. owned approximately 0.49% of Taylor Morrison Home worth $29,810,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in shares of Taylor Morrison Home by 3.6% in the fourth quarter. Ameriprise Financial Inc. now owns 641,170 shares of the construction company's stock valued at $39,247,000 after buying an additional 22,421 shares during the period. Bridgefront Capital LLC acquired a new position in Taylor Morrison Home in the 4th quarter valued at approximately $326,000. Centiva Capital LP grew its holdings in shares of Taylor Morrison Home by 79.4% during the 4th quarter. Centiva Capital LP now owns 5,273 shares of the construction company's stock worth $323,000 after purchasing an additional 2,334 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Taylor Morrison Home by 9.9% during the 4th quarter. Cetera Investment Advisers now owns 30,198 shares of the construction company's stock worth $1,848,000 after purchasing an additional 2,711 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Taylor Morrison Home by 25.1% during the 4th quarter. Deutsche Bank AG now owns 180,023 shares of the construction company's stock worth $11,019,000 after purchasing an additional 36,142 shares in the last quarter. Institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Trading Up 2.4%

Taylor Morrison Home stock traded up $1.66 during midday trading on Friday, hitting $71.76. 1,368,165 shares of the stock were exchanged, compared to its average volume of 1,102,806. The company has a fifty day simple moving average of $64.97 and a two-hundred day simple moving average of $60.89. Taylor Morrison Home Corporation has a 52 week low of $51.90 and a 52 week high of $75.49. The stock has a market capitalization of $7.20 billion, a PE ratio of 8.29 and a beta of 1.58. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TMHC. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.88.

Insider Transactions at Taylor Morrison Home

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 5,082 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $69.97, for a total transaction of $355,587.54. Following the sale, the chief financial officer directly owned 11,742 shares of the company's stock, valued at $821,587.74. The trade was a 30.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sheryl Palmer sold 25,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $70.20, for a total value of $1,755,000.00. Following the transaction, the chief executive officer directly owned 383,988 shares of the company's stock, valued at $26,955,957.60. This trade represents a 6.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,836 shares of company stock worth $2,746,743. Corporate insiders own 1.40% of the company's stock.

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.