Squarepoint Ops LLC Takes Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Squarepoint Ops LLC bought a new position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,171 shares of the construction company's stock, valued at approximately $1,130,000.

A number of other hedge funds also recently bought and sold shares of the company. Covestor Ltd lifted its position in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after purchasing an additional 335 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Tri Pointe Homes by 84.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock valued at $49,000 after buying an additional 613 shares during the period. Assetmark Inc. increased its stake in shares of Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after buying an additional 300 shares during the period. Sterling Capital Management LLC increased its stake in shares of Tri Pointe Homes by 729.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after buying an additional 1,831 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock valued at $81,000 after buying an additional 1,900 shares during the period. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Stock Down 0.8%

TPH stock traded down $0.24 during midday trading on Friday, hitting $29.45. The stock had a trading volume of 1,231,248 shares, compared to its average volume of 906,602. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 6.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The business has a 50-day moving average of $30.68 and a two-hundred day moving average of $34.51. Tri Pointe Homes, Inc. has a 52-week low of $27.90 and a 52-week high of $47.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.25. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company had revenue of $720.79 million for the quarter, compared to analysts' expectations of $713.65 million. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm's revenue for the quarter was down 21.5% on a year-over-year basis. As a group, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the sale, the chief executive officer now directly owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI reduced their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Oppenheimer reduced their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Wedbush raised Tri Pointe Homes from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $38.00 to $43.00 in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.60.

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.