Steamboat Capital Partners LLC Grows Holdings in Taylor Morrison Home Corporation $TMHC

Key Points

• Steamboat Capital Partners LLC increased its stake in Taylor Morrison Home Corporation by 19.4%, now holding approximately $12.01 million worth of shares, making it the 10th largest holding in their investment portfolio.
• Insiders at Taylor Morrison have recently sold a substantial amount of stock, with CEO Sheryl Palmer selling 25,000 shares and CFO Curtis Vanhyfte selling 9,754 shares, indicating potential shift in insider confidence.
• The company achieved a quarterly earnings per share of $2.02, exceeding expectations, and has seen overall revenue growth of 2.0% year-over-year, indicating profitability amid market fluctuations.

Steamboat Capital Partners LLC grew its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 19.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the construction company's stock after purchasing an additional 32,512 shares during the period. Taylor Morrison Home accounts for about 3.6% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 10th largest position. Steamboat Capital Partners LLC owned about 0.20% of Taylor Morrison Home worth $12,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Taylor Morrison Home during the 1st quarter valued at $51,329,000. Long Pond Capital LP bought a new stake in Taylor Morrison Home during the 1st quarter valued at $40,345,000. Junto Capital Management LP acquired a new stake in shares of Taylor Morrison Home in the 1st quarter worth approximately $34,007,000. Victory Capital Management Inc. lifted its stake in Taylor Morrison Home by 197.2% during the first quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock valued at $47,671,000 after purchasing an additional 526,819 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Taylor Morrison Home by 80.2% during the first quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock valued at $54,760,000 after purchasing an additional 405,875 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Taylor Morrison Home Stock Performance

Taylor Morrison Home stock traded up $0.76 during midday trading on Wednesday, hitting $67.48. The company's stock had a trading volume of 676,320 shares, compared to its average volume of 1,087,635. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74. Taylor Morrison Home Corporation has a 1-year low of $51.90 and a 1-year high of $75.49. The company has a 50-day moving average price of $64.57 and a two-hundred day moving average price of $60.80. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 7.31 and a beta of 1.58.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last released its 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. As a group, sell-side analysts predict that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current year.

Insider Buying and Selling at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 25,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $70.20, for a total transaction of $1,755,000.00. Following the completion of the transaction, the chief executive officer owned 383,988 shares in the company, valued at $26,955,957.60. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Curtis Vanhyfte sold 9,754 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total transaction of $636,155.88. Following the completion of the sale, the chief financial officer directly owned 14,163 shares in the company, valued at approximately $923,710.86. The trade was a 40.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,836 shares of company stock worth $2,746,743. Corporate insiders own 1.40% of the company's stock.

Taylor Morrison Home Company Profile

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.