134,863 Shares in Taylor Morrison Home Corporation $TMHC Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. invested approximately $8.10 million in Taylor Morrison Home Corporation, purchasing 134,863 shares in the first quarter.
• The company's stock has received mixed analyst ratings, with a consensus rating of "Buy" and a price target averaging $76.88.
• In a recent earnings report, Taylor Morrison Home reported $2.02 EPS for the quarter, surpassing estimates, with revenue of $2.03 billion, reflecting a 2.0% year-over-year growth.

Panagora Asset Management Inc. acquired a new stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 134,863 shares of the construction company's stock, valued at approximately $8,097,000. Panagora Asset Management Inc. owned approximately 0.13% of Taylor Morrison Home as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TMHC. Morse Asset Management Inc acquired a new stake in Taylor Morrison Home during the 4th quarter worth about $29,000. GAMMA Investing LLC raised its holdings in Taylor Morrison Home by 193.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after buying an additional 444 shares during the period. Quarry LP raised its holdings in Taylor Morrison Home by 202.1% during the 4th quarter. Quarry LP now owns 704 shares of the construction company's stock worth $43,000 after buying an additional 471 shares during the period. Farther Finance Advisors LLC raised its holdings in Taylor Morrison Home by 49.5% during the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock worth $48,000 after buying an additional 262 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Taylor Morrison Home by 50.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock worth $51,000 after buying an additional 282 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Taylor Morrison Home

In related news, CEO Sheryl Palmer sold 25,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $70.20, for a total value of $1,755,000.00. Following the completion of the sale, the chief executive officer directly owned 383,988 shares in the company, valued at approximately $26,955,957.60. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Curtis Vanhyfte sold 5,082 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 11,742 shares of the company's stock, valued at approximately $821,587.74. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,836 shares of company stock valued at $2,746,743. 1.40% of the stock is currently owned by company insiders.

Taylor Morrison Home Stock Up 3.9%

Shares of NYSE TMHC traded up $2.64 during trading hours on Thursday, hitting $70.13. The stock had a trading volume of 1,405,684 shares, compared to its average volume of 1,081,053. The company has a market capitalization of $7.04 billion, a P/E ratio of 8.10 and a beta of 1.58. The firm's 50-day moving average price is $64.57 and its two-hundred day moving average price is $60.80. Taylor Morrison Home Corporation has a 52 week low of $51.90 and a 52 week high of $75.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 EPS for the quarter, beating the consensus estimate 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 firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS. Analysts anticipate that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on TMHC. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.88.

About Taylor Morrison Home

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.