Taylor Morrison Home Corporation $TMHC Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its holdings in Taylor Morrison Home Corporation by 41.6%, now owning 29,341 shares valued at $1,762,000.
• Several hedge funds, including GAMMA Investing LLC and KBC Group NV, increased their stakes during the same period, with GAMMA lifting its position by 193%.
• Taylor Morrison's recent earnings report showed a net margin of 10.72% and revenue of $2.03 billion, exceeding analyst estimates of $1.93 billion.

Martingale Asset Management L P decreased its holdings in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 41.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,341 shares of the construction company's stock after selling 20,939 shares during the period. Martingale Asset Management L P's holdings in Taylor Morrison Home were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc purchased a new position in shares of Taylor Morrison Home during the fourth quarter valued at $29,000. GAMMA Investing LLC increased its stake in shares of Taylor Morrison Home by 193.0% during the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock valued at $40,000 after buying an additional 444 shares during the period. Quarry LP increased its stake in shares of Taylor Morrison Home by 202.1% during the fourth quarter. Quarry LP now owns 704 shares of the construction company's stock valued at $43,000 after buying an additional 471 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Taylor Morrison Home by 49.5% during the first quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock valued at $48,000 after buying an additional 262 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Taylor Morrison Home by 50.2% during the first quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock valued at $51,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Stock Down 0.8%

TMHC stock traded down $0.57 during trading on Tuesday, reaching $67.43. 1,972,491 shares of the company traded hands, compared to its average volume of 1,090,094. Taylor Morrison Home Corporation has a 12 month low of $51.90 and a 12 month high of $75.49. The business has a 50 day simple moving average of $63.42 and a 200 day simple moving average of $60.58. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 7.79 and a beta of 1.53. 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 issued its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.08. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company earned $1.86 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on TMHC shares. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, Bank of America started coverage on Taylor Morrison Home in a research note on Monday, May 5th. They set a "buy" rating and a $70.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $76.88.

Insider Transactions at Taylor Morrison Home

In related news, CFO Curtis Vanhyfte sold 5,082 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $69.97, for a total transaction of $355,587.54. Following the sale, the chief financial officer owned 11,742 shares of the company's stock, valued at $821,587.74. This trade represents a 30.21% 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, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $26,955,957.60. This represents a 6.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,836 shares of company stock worth $2,746,743. 1.40% of the stock is owned by corporate insiders.

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.