Millennium Management LLC Sells 284,224 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Millennium Management LLC lessened its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,093,823 shares of the construction company's stock after selling 284,224 shares during the period. Millennium Management LLC owned about 1.17% of Tri Pointe Homes worth $39,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TPH. Barclays PLC lifted its stake in shares of Tri Pointe Homes by 103.7% in the 3rd quarter. Barclays PLC now owns 209,239 shares of the construction company's stock valued at $9,480,000 after acquiring an additional 106,543 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock valued at $232,000 after acquiring an additional 444 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Tri Pointe Homes by 34.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,661 shares of the construction company's stock valued at $278,000 after acquiring an additional 1,949 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its stake in shares of Tri Pointe Homes by 3.6% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 239,186 shares of the construction company's stock valued at $8,673,000 after acquiring an additional 8,282 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock valued at $84,000 after acquiring an additional 789 shares during the last quarter. Institutional investors own 97.01% of the company's stock.

Insiders Place Their Bets

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the transaction, the chief executive officer now owns 627,833 shares in the company, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company's stock.

Tri Pointe Homes Trading Up 0.2%

NYSE:TPH traded up $0.06 during mid-day trading on Friday, reaching $29.87. 684,290 shares of the company's stock traded hands, compared to its average volume of 901,450. Tri Pointe Homes, Inc. has a 12-month low of $27.90 and a 12-month high of $47.78. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The company has a 50 day moving average price of $30.89 and a 200-day moving average price of $34.98.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.25. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The firm had revenue of $720.79 million for the quarter, compared to the consensus estimate of $713.65 million. During the same quarter in the prior year, the business earned $1.03 EPS. The business's revenue for the quarter was down 21.5% on a year-over-year basis. On average, sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Oppenheimer lowered their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Seaport Res Ptn upgraded Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Finally, Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $38.00 to $43.00 in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.60.

Tri Pointe Homes Company Profile

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.