XTX Topco Ltd Acquires New Shares in 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 bought a new position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,576 shares of the construction company's stock, valued at approximately $593,000.

Several other institutional investors also recently bought and sold shares of TPH. Covestor Ltd grew its holdings in shares of Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after buying an additional 335 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after buying an additional 1,831 shares during the period. CWM LLC increased 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 valued at $121,000 after buying an additional 1,534 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock worth $126,000 after buying an additional 287 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Tri Pointe Homes by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after acquiring an additional 1,445 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPH. Wedbush reissued an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. 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. 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 report on Friday, July 25th. Finally, Wall Street Zen downgraded Tri Pointe Homes from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Stock Performance

TPH stock traded up $0.22 during trading on Friday, reaching $33.01. 985,905 shares of the company's stock were exchanged, compared to its average volume of 1,323,064. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $46.91. The firm has a market cap of $2.99 billion, a PE ratio of 8.40, a P/E/G ratio of 0.89 and a beta of 1.22. The company's fifty day moving average price is $32.04 and its 200-day moving average price is $32.12. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

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

Tri Pointe Homes announced that its Board of Directors has authorized a share buyback program on Thursday, July 24th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Tri Pointe Homes Profile

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.