Millennium Management LLC Acquires 167,366 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Millennium Management LLC increased its stake in Taylor Morrison Home Corporation by 27.9%, now owning 766,261 shares, valued at approximately $46 million, following the acquisition of an additional 167,366 shares.
• Multiple hedge funds have adjusted their holdings in Taylor Morrison, with institutional investors and hedge funds now owning 95.16% of the company's stock.
• Analysts have mixed ratings on TMHC, with one report upgrading it to a "strong-buy" while another downgraded to a "hold," reflecting a diversity of opinions on its investment potential.

Millennium Management LLC increased its holdings in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 27.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 766,261 shares of the construction company's stock after purchasing an additional 167,366 shares during the period. Millennium Management LLC owned approximately 0.76% of Taylor Morrison Home worth $46,006,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Taylor Morrison Home by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,927 shares of the construction company's stock worth $3,658,000 after purchasing an additional 2,659 shares in the last quarter. Interval Partners LP boosted its stake in Taylor Morrison Home by 93.2% during the first quarter. Interval Partners LP now owns 694,542 shares of the construction company's stock worth $41,700,000 after acquiring an additional 334,972 shares in the last quarter. AQR Capital Management LLC grew its holdings in Taylor Morrison Home by 23.9% in the first quarter. AQR Capital Management LLC now owns 584,132 shares of the construction company's stock worth $34,651,000 after purchasing an additional 112,548 shares during the period. Perbak Capital Partners LLP bought a new position in shares of Taylor Morrison Home during the first quarter valued at approximately $341,000. Finally, First Manhattan CO. LLC. purchased a new position in shares of Taylor Morrison Home during the first quarter valued at approximately $8,049,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analysts Set New Price Targets

TMHC has been the topic of several recent research reports. Wall Street Zen downgraded Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seaport Res Ptn raised Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $76.88.

Taylor Morrison Home Stock Performance

Taylor Morrison Home stock traded down $1.44 during mid-day trading on Friday, reaching $69.69. 1,231,616 shares of the stock traded hands, compared to its average volume of 1,080,227. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74. The business's 50-day moving average is $65.54 and its 200-day moving average is $61.16. The stock has a market capitalization of $6.99 billion, a PE ratio of 8.05 and a beta of 1.58. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49.

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

Insider Transactions at Taylor Morrison Home

In other news, CEO Sheryl Palmer sold 13,513 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $72.06, for a total value of $973,746.78. Following the completion of the transaction, the chief executive officer owned 370,475 shares of the company's stock, valued at $26,696,428.50. This represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Curtis Vanhyfte sold 5,082 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $69.97, for a total value of $355,587.54. Following the completion of the transaction, the chief financial officer directly owned 11,742 shares of the company's stock, valued at approximately $821,587.74. This trade represents a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,349 shares of company stock valued at $3,720,490. Company insiders own 1.40% of the company's stock.

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.