Trexquant Investment LP Purchases 10,193 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• Trexquant Investment LP has increased its stake in Tri Pointe Homes by 5.3%, holding approximately 204,264 shares valued at $6.52 million.
• Institutional investors now own 97.01% of Tri Pointe Homes, indicating strong confidence from the investment community.
• Tri Pointe Homes has initiated a $50 million stock repurchase plan, suggesting that management believes the company's shares are undervalued despite a 22.3% revenue decline compared to the previous year.

Trexquant Investment LP increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,264 shares of the construction company's stock after buying an additional 10,193 shares during the period. Trexquant Investment LP owned 0.23% of Tri Pointe Homes worth $6,520,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in Tri Pointe Homes by 56.5% in the first quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock valued at $67,000 after purchasing an additional 757 shares in the last quarter. CWM LLC grew its position in shares of Tri Pointe Homes by 67.8% during the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after acquiring an additional 1,534 shares during the period. Covestor Ltd grew its position in shares of Tri Pointe Homes by 327.8% during the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock valued at $124,000 after acquiring an additional 2,976 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Tri Pointe Homes by 67.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after buying an additional 1,445 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in shares of Tri Pointe Homes during the 1st quarter valued at approximately $202,000. Institutional investors own 97.01% of the company's stock.

Wall Street Analyst Weigh In

TPH has been the topic of a number of recent research reports. Wedbush restated an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Evercore ISI lowered their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.80.

Tri Pointe Homes Trading Up 2.6%

Shares of TPH stock traded up $0.91 on Thursday, hitting $36.21. 382,888 shares of the company's stock traded hands, compared to its average volume of 1,033,440. 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 one year low of $27.90 and a one year high of $46.91. The company's fifty day simple moving average is $33.61 and its 200 day simple moving average is $31.91. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 0.96 and a beta of 1.27.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. During the same quarter last year, the firm earned $1.25 EPS. The firm's quarterly revenue was down 22.3% compared to the same quarter last year. Equities analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced 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 outstanding shares. This repurchase authorization permits the construction company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership 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.