Tri Pointe Homes Inc. $TPH Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC cut its Tri Pointe Homes stake by 49.2% in the fourth quarter, selling 22,777 shares and leaving it with 23,479 shares worth about $739,000.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 97.01% of the stock, while several funds recently increased their positions.
• Tri Pointe Homes reported mixed quarterly results: EPS of $0.08 missed expectations, but revenue of $507.9 million topped estimates even as sales fell 29.7% year over year.

Horizon Investments LLC lessened its stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 49.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,479 shares of the construction company's stock after selling 22,777 shares during the period. Horizon Investments LLC's holdings in Tri Pointe Homes were worth $739,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TPH. AQR Capital Management LLC lifted its holdings in shares of Tri Pointe Homes by 353.2% in the second quarter. AQR Capital Management LLC now owns 687,307 shares of the construction company's stock valued at $21,788,000 after purchasing an additional 535,640 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Tri Pointe Homes by 52.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 895,569 shares of the construction company's stock valued at $30,422,000 after purchasing an additional 309,223 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Tri Pointe Homes by 34.1% in the third quarter. Bank of America Corp DE now owns 1,099,955 shares of the construction company's stock valued at $37,365,000 after purchasing an additional 279,979 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Tri Pointe Homes by 10.1% in the third quarter. American Century Companies Inc. now owns 2,755,767 shares of the construction company's stock valued at $93,613,000 after purchasing an additional 252,949 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Tri Pointe Homes by 30.7% in the third quarter. Boston Partners now owns 1,071,983 shares of the construction company's stock valued at $36,413,000 after purchasing an additional 251,491 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Trading Up 0.0%

Tri Pointe Homes stock opened at $46.96 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.37 and a beta of 1.16. Tri Pointe Homes Inc. has a one year low of $28.72 and a one year high of $46.99. The company's fifty day moving average price is $46.66 and its two-hundred day moving average price is $38.65.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Wednesday, April 29th. The construction company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.22). The business had revenue of $507.90 million for the quarter, compared to analyst estimates of $495.67 million. Tri Pointe Homes had a return on equity of 6.24% and a net margin of 5.77%.The company's quarterly revenue was down 29.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, analysts forecast that Tri Pointe Homes Inc. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TPH shares. Royal Bank Of Canada increased their target price on Tri Pointe Homes from $31.00 to $47.00 and gave the company a "sector perform" rating in a report on Tuesday, February 17th. Oppenheimer lowered Tri Pointe Homes from an "outperform" rating to a "market perform" rating in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tri Pointe Homes in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.50.

Insider Buying and Selling

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the transaction, the director directly owned 30,330 shares of the company's stock, valued at $1,405,188.90. This represents a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc NYSE: TPH is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company's operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.

Want to see what other hedge funds are holding TPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tri Pointe Homes Inc. (NYSE:TPH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.