Pacer Advisors Inc. Sells 190,083 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• Pacer Advisors Inc. cut its Tri Pointe Homes stake by 37.6% in the fourth quarter, selling 190,083 shares and leaving it with 315,218 shares valued at about $9.92 million.
• Analysts remain cautious overall despite some higher price targets: RBC lifted its target to $47, while the consensus rating is still “Hold” with an average price target of $42.50.
• Tri Pointe Homes missed earnings estimates in its latest quarter, reporting EPS of $0.08 versus the expected $0.30, even though revenue came in slightly above forecasts at $507.9 million.

Pacer Advisors Inc. lowered its stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 37.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,218 shares of the construction company's stock after selling 190,083 shares during the quarter. Pacer Advisors Inc. owned approximately 0.37% of Tri Pointe Homes worth $9,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D boosted its stake in Tri Pointe Homes by 12.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 69,982 shares of the construction company's stock worth $2,202,000 after purchasing an additional 7,914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tri Pointe Homes by 5.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,900 shares of the construction company's stock worth $815,000 after purchasing an additional 1,294 shares during the period. Elevated Capital Advisors LLC boosted its stake in Tri Pointe Homes by 48.3% in the 4th quarter. Elevated Capital Advisors LLC now owns 17,153 shares of the construction company's stock worth $540,000 after purchasing an additional 5,586 shares during the period. AE Wealth Management LLC boosted its stake in Tri Pointe Homes by 33.5% in the 4th quarter. AE Wealth Management LLC now owns 548,598 shares of the construction company's stock worth $17,264,000 after purchasing an additional 137,762 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Tri Pointe Homes by 35.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,876 shares of the construction company's stock worth $59,000 after purchasing an additional 493 shares during the period. Institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank Of Canada raised their target price on Tri Pointe Homes from $31.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 17th. Weiss Ratings downgraded Tri Pointe Homes from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. Finally, Oppenheimer downgraded Tri Pointe Homes from an "outperform" rating to a "market perform" rating in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $42.50.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $46.97 on Thursday. The company has a market cap of $4.00 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $46.71 and a 200-day moving average price of $39.04. Tri Pointe Homes Inc. has a 12-month low of $28.72 and a 12-month high of $46.99.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.22). The business had revenue of $507.90 million for the quarter, compared to the consensus estimate of $495.67 million. Tri Pointe Homes had a net margin of 5.77% and a return on equity of 6.24%. The business's revenue was down 29.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. As a group, equities analysts forecast that Tri Pointe Homes Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven J. Gilbert sold 50,000 shares of Tri Pointe Homes stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the completion of the sale, the director owned 30,330 shares in the company, valued at approximately $1,405,188.90. This trade represents a 62.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.20% of the company's stock.

About Tri Pointe Homes

Tri Pointe Homes, Inc NYSE: TPH is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company's operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.

Want to see what other hedge funds are holding TPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tri Pointe Homes Inc. (NYSE:TPH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.