Neo Ivy Capital Management Buys Shares of 28,546 Tri Pointe Homes Inc. (NYSE:TPH)

Key Points

• Neo Ivy Capital Management has invested approximately $911,000 in Tri Pointe Homes, acquiring 28,546 shares of the company during the first quarter.
• Tri Pointe Homes reported earnings of $0.77 per share, surpassing analysts' expectations, but its revenue decreased by 22.3% year-over-year.
• The company's board approved a stock repurchase program, allowing up to $50 million in share buybacks, indicating management's belief that the stock is undervalued.

Neo Ivy Capital Management purchased a new position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,546 shares of the construction company's stock, valued at approximately $911,000.

Several other hedge funds have also made changes to their positions in TPH. Covestor Ltd raised its stake in Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after purchasing an additional 335 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Tri Pointe Homes by 729.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock worth $75,000 after buying an additional 1,831 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth $118,000. CWM LLC raised its position in shares of Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after buying an additional 1,534 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Tri Pointe Homes by 8.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock worth $126,000 after buying an additional 287 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Stock Down 0.0%

NYSE TPH traded down $0.01 on Wednesday, reaching $31.27. The company had a trading volume of 288,091 shares, compared to its average volume of 1,026,786. The firm has a market capitalization of $2.84 billion, a PE ratio of 7.96, a P/E/G ratio of 0.86 and a beta of 1.25. The firm has a 50-day moving average of $31.64 and a 200-day moving average of $32.33. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $47.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The business had revenue of $884.01 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities research analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TPH shares. Evercore ISI dropped their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Wedbush reissued an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wolfe Research cut shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday. Finally, Wall Street Zen lowered shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tri Pointe Homes presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

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.