Assenagon Asset Management S.A. Lowers Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Assenagon Asset Management S.A. lowered its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 59.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,039 shares of the construction company's stock after selling 429,006 shares during the quarter. Assenagon Asset Management S.A. owned 0.31% of Tri Pointe Homes worth $10,551,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TPH. West Tower Group LLC acquired a new stake in Tri Pointe Homes in the 2nd quarter valued at $27,000. Ronald Blue Trust Inc. boosted its holdings in Tri Pointe Homes by 168.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,016 shares of the construction company's stock worth $28,000 after acquiring an additional 637 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Tri Pointe Homes during the 2nd quarter worth $45,000. Point72 Hong Kong Ltd purchased a new position in Tri Pointe Homes during the 1st quarter worth $45,000. Finally, Captrust Financial Advisors boosted its holdings in Tri Pointe Homes by 30.4% during the 1st quarter. Captrust Financial Advisors now owns 2,275 shares of the construction company's stock worth $46,000 after acquiring an additional 531 shares during the last quarter. Institutional investors own 97.01% of the company's stock.

Insider Activity

In other news, COO Thomas J. Mitchell sold 51,533 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the sale, the chief operating officer now directly owns 785,543 shares in the company, valued at $27,666,824.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

TPH has been the topic of a number of analyst reports. Royal Bank of Canada raised shares of Tri Pointe Homes from a "sector perform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a report on Wednesday, March 13th. Oppenheimer reiterated an "outperform" rating and set a $41.00 target price (up from $36.00) on shares of Tri Pointe Homes in a research note on Wednesday, February 21st. Finally, Wedbush reiterated a "neutral" rating and set a $32.00 target price on shares of Tri Pointe Homes in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.20.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock traded up $0.73 during midday trading on Friday, reaching $38.66. The stock had a trading volume of 1,229,747 shares, compared to its average volume of 1,784,473. Tri Pointe Homes, Inc. has a 12 month low of $24.18 and a 12 month high of $39.08. The firm's 50-day moving average price is $35.22 and its 200 day moving average price is $31.74. The firm has a market capitalization of $3.69 billion, a PE ratio of 11.21, a P/E/G ratio of 0.82 and a beta of 1.53. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.24. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the business posted $1.98 EPS. The firm's quarterly revenue was down 17.5% compared to the same quarter last year. As a group, research analysts predict that Tri Pointe Homes, Inc. will post 3.64 earnings per share for the current fiscal year.

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.