Quantbot Technologies LP Has $1.56 Million Position in Tri Pointe Homes Inc. $TPH

Key Points

• Quantbot Technologies LP reduced its stake in Tri Pointe Homes by 16.4% in the first quarter, owning approximately 48,872 shares valued at $1.56 million.
• Tri Pointe Homes reported a net income of $884.01 million for the quarter, beating analyst expectations, though this represents a 22.3% decline in revenue year-over-year.
• The company's Board of Directors has initiated a $50 million share repurchase program, indicating confidence that the company's shares are undervalued.

Quantbot Technologies LP cut its stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 16.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,872 shares of the construction company's stock after selling 9,573 shares during the period. Quantbot Technologies LP owned approximately 0.05% of Tri Pointe Homes worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Tri Pointe Homes by 13.5% in the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock valued at $70,517,000 after acquiring an additional 262,695 shares in the last quarter. LSV Asset Management raised its holdings in Tri Pointe Homes by 4.8% in the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock valued at $56,272,000 after acquiring an additional 80,198 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Tri Pointe Homes by 3.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company's stock valued at $62,958,000 after acquiring an additional 49,916 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes in the 4th quarter valued at $60,261,000. Finally, Nuveen LLC acquired a new position in Tri Pointe Homes in the 1st quarter valued at $43,906,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $36.1550 on Friday. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $46.91. The stock has a fifty day moving average of $32.88 and a 200-day moving average of $31.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $3.28 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.93 and a beta of 1.22.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The business had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The business's revenue for the quarter was down 22.3% compared to the same quarter last year. On average, sell-side analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on TPH shares. Wall Street Zen cut Tri Pointe Homes from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Wedbush reissued an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a report on Friday, July 25th. Evercore ISI lowered their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Finally, Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.