Cubist Systematic Strategies LLC Has $17.19 Million Holdings in Tri Pointe Homes Inc. $TPH

Key Points

• Cubist Systematic Strategies LLC increased its position in Tri Pointe Homes by 64.2%, owning 538,530 shares valued at approximately $17.19 million after acquiring an additional 210,495 shares in the first quarter.
• Research firms have mixed views on Tri Pointe Homes, with ratings ranging from "sell" to "outperform," and a consensus target price set at $40.80.
• Tri Pointe Homes reported a quarterly earnings per share of $0.77, exceeding expectations, though their revenue of $884.01 million reflected a 22.3% year-over-year decline.

Cubist Systematic Strategies LLC boosted its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 64.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 538,530 shares of the construction company's stock after buying an additional 210,495 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.59% of Tri Pointe Homes worth $17,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in Tri Pointe Homes by 67.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock worth $130,000 after purchasing an additional 1,445 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tri Pointe Homes by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 88,800 shares of the construction company's stock worth $3,220,000 after acquiring an additional 9,351 shares during the period. Northern Trust Corp lifted its holdings in shares of Tri Pointe Homes by 13.8% during the 4th quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company's stock worth $46,645,000 after acquiring an additional 155,694 shares during the period. Lido Advisors LLC lifted its holdings in shares of Tri Pointe Homes by 33.4% during the 4th quarter. Lido Advisors LLC now owns 8,367 shares of the construction company's stock worth $303,000 after acquiring an additional 2,097 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Tri Pointe Homes by 1.6% during the 4th quarter. AQR Capital Management LLC now owns 178,825 shares of the construction company's stock worth $6,484,000 after acquiring an additional 2,758 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Trading Up 2.9%

NYSE TPH traded up $1.02 during trading on Thursday, reaching $36.32. 880,684 shares of the stock traded hands, compared to its average volume of 1,036,943. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27. The stock's 50-day moving average price is $33.71 and its 200 day moving average price is $31.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. 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 results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The business's revenue was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TPH shares. Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Wedbush restated an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Evercore ISI lowered 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 research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.