XTX Topco Ltd Purchases Shares of 18,576 Tri Pointe Homes Inc. (NYSE:TPH)

Key Points

• XTX Topco Ltd acquired 18,576 shares of Tri Pointe Homes, valued at approximately $593,000, in the first quarter of 2023.
• Tri Pointe Homes reported earnings of $0.77 EPS for the last quarter, exceeding analysts' expectations of $0.66, although revenue was down 22.3% year-over-year.
• The company announced a $50 million stock buyback program, indicating management believes its shares are undervalued.

XTX Topco Ltd purchased a new stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,576 shares of the construction company's stock, valued at approximately $593,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TPH. Covestor Ltd increased its holdings in Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after buying an additional 335 shares during the period. Sterling Capital Management LLC grew its holdings in Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock worth $75,000 after purchasing an additional 1,831 shares during the last quarter. CWM LLC boosted its holdings in Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after acquiring an additional 1,534 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Tri Pointe Homes by 8.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock valued at $126,000 after purchasing an additional 287 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in 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 worth $130,000 after purchasing an additional 1,445 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Price Performance

TPH traded down $0.30 on Thursday, hitting $32.75. 995,570 shares of the company were exchanged, compared to its average volume of 1,045,666. The firm has a market capitalization of $2.97 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.22. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $46.91. The business's fifty day moving average is $31.97 and its 200 day moving average is $32.15. 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 (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $810.77 million. During the same period in the previous year, the firm earned $1.25 earnings per share. Tri Pointe Homes's revenue for the quarter was down 22.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

TPH has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday, July 25th. Evercore ISI decreased their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Wall Street Zen downgraded Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $40.80.

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.