Taylor Morrison Home Corporation $TMHC Holdings Lowered by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC decreased its stake in Taylor Morrison Home Corporation by 5.8%, selling 13,865 shares and retaining 226,875 shares, valued at approximately $13.6 million.
• In Q1, institutional investors acquired new positions in Taylor Morrison, with notable purchases from Nuveen LLC and Long Pond Capital LP, increasing institutional ownership to 95.16%.
• Taylor Morrison Home's latest earnings report exceeded analyst estimates, with an EPS of $2.02 and revenue of $2.03 billion, reflecting a 2% year-over-year revenue growth.

Cubist Systematic Strategies LLC reduced its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,875 shares of the construction company's stock after selling 13,865 shares during the period. Cubist Systematic Strategies LLC owned about 0.23% of Taylor Morrison Home worth $13,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in shares of Taylor Morrison Home during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in shares of Taylor Morrison Home by 193.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock valued at $40,000 after acquiring an additional 444 shares in the last quarter. Quarry LP raised its position in shares of Taylor Morrison Home by 202.1% during the 4th quarter. Quarry LP now owns 704 shares of the construction company's stock valued at $43,000 after acquiring an additional 471 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Taylor Morrison Home by 49.5% during the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock valued at $48,000 after acquiring an additional 262 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Taylor Morrison Home by 50.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock valued at $51,000 after acquiring an additional 282 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Curtis Vanhyfte sold 9,754 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total transaction of $636,155.88. Following the completion of the transaction, the chief financial officer owned 14,163 shares of the company's stock, valued at $923,710.86. This trade represents a 40.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction dated 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 represents a 6.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,836 shares of company stock valued at $2,746,743 in the last ninety days. Company insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $76.88.

Taylor Morrison Home Stock Performance

Shares of NYSE:TMHC traded up $2.64 on Thursday, hitting $70.13. The company's stock had a trading volume of 1,405,684 shares, compared to its average volume of 1,081,053. The stock's 50-day moving average is $64.76 and its two-hundred day moving average is $60.85. Taylor Morrison Home Corporation has a 12 month low of $51.90 and a 12 month high of $75.49. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 8.10 and a beta of 1.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its 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 business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter last year, the business posted $1.86 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Taylor Morrison Home Profile

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.