Quantbot Technologies LP Sells 9,573 Shares of 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 holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,872 shares of the construction company's stock after selling 9,573 shares during the period. Quantbot Technologies LP owned about 0.05% of Tri Pointe Homes worth $1,560,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CWM LLC increased its holdings 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 last quarter. Covestor Ltd increased its holdings in shares of Tri Pointe Homes by 327.8% in the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock worth $124,000 after buying an additional 2,976 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tri Pointe Homes by 67.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock worth $130,000 after buying an additional 1,445 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of Tri Pointe Homes by 8.3% in the 4th quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock worth $210,000 after buying an additional 442 shares during the last quarter. Finally, Elevated Capital Advisors LLC boosted its stake in shares of Tri Pointe Homes by 9.3% during the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock worth $225,000 after purchasing an additional 599 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TPH. Evercore ISI dropped their price target on shares of 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. Wolfe Research cut shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wedbush reaffirmed an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Finally, Wall Street Zen cut shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.

Tri Pointe Homes Trading Down 1.2%

Tri Pointe Homes stock traded down $0.42 during trading hours on Thursday, hitting $34.91. The company had a trading volume of 158,390 shares, compared to its average volume of 1,037,685. The firm has a market cap of $3.17 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.95 and a beta of 1.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The company has a 50-day moving average price of $33.19 and a two-hundred day moving average price of $31.93.

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

Tri Pointe Homes announced that its board has initiated a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

About Tri Pointe Homes

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.