Cwm LLC Boosts Stock Position in Tri Pointe Homes Inc. $TPH

Key Points

• Cwm LLC significantly increased its stake in Tri Pointe Homes Inc. by 1,190.9%, owning 49,017 shares worth around $1.57 million after acquiring an additional 45,220 shares in the second quarter.
• Tri Pointe Homes reported earnings of $0.77 per share for the last quarter, beating estimates by $0.11, although revenue fell 22.3% year-over-year.
• The company's Board of Directors approved a $50 million share repurchase program, indicating their belief that the stock is undervalued.

Cwm LLC lifted its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 1,190.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,017 shares of the construction company's stock after buying an additional 45,220 shares during the quarter. Cwm LLC owned approximately 0.05% of Tri Pointe Homes worth $1,566,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its position in Tri Pointe Homes by 16.1% during the second quarter. Inspire Investing LLC now owns 14,689 shares of the construction company's stock worth $469,000 after acquiring an additional 2,037 shares during the period. Blue Trust Inc. grew its position in shares of Tri Pointe Homes by 16.6% in the second quarter. Blue Trust Inc. now owns 2,982 shares of the construction company's stock valued at $95,000 after purchasing an additional 424 shares during the period. Belpointe Asset Management LLC increased its stake in shares of Tri Pointe Homes by 24.9% during the second quarter. Belpointe Asset Management LLC now owns 12,730 shares of the construction company's stock worth $407,000 after purchasing an additional 2,541 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Tri Pointe Homes during the 2nd quarter worth about $272,000. Finally, O Keefe Stevens Advisory Inc. lifted its stake in Tri Pointe Homes by 10.0% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 273,349 shares of the construction company's stock valued at $8,734,000 after buying an additional 24,765 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $31.96 on Monday. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91. The stock has a market cap of $2.90 billion, a PE ratio of 8.13, a P/E/G ratio of 0.86 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a 50 day moving average price of $34.30 and a 200 day moving average price of $32.35.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The company had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. During the same period in the prior year, the business earned $1.25 EPS. The firm's quarterly revenue was down 22.3% on a year-over-year basis. Equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has approved a share repurchase program on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tri Pointe Homes in a research report on Wednesday, October 8th. Evercore ISI reissued an "in-line" rating and issued a $34.00 price objective (down from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Tri Pointe Homes has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

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.

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