Balyasny Asset Management LLC raised its holdings in TRI Pointe Group, Inc. (NYSE:TPH) by 26.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,600 shares of the construction company’s stock after acquiring an additional 10,600 shares during the period. Balyasny Asset Management LLC’s holdings in TRI Pointe Group were worth $667,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Voya Investment Management LLC grew its position in TRI Pointe Group by 10.6% in the second quarter. Voya Investment Management LLC now owns 64,776 shares of the construction company’s stock valued at $854,000 after acquiring an additional 6,212 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in TRI Pointe Group by 69.9% in the second quarter. Parametric Portfolio Associates LLC now owns 298,660 shares of the construction company’s stock valued at $3,939,000 after acquiring an additional 122,850 shares during the last quarter. ETRADE Capital Management LLC bought a new position in TRI Pointe Group in the second quarter valued at about $412,000. Quantum Capital Management grew its position in TRI Pointe Group by 34.2% in the second quarter. Quantum Capital Management now owns 22,330 shares of the construction company’s stock valued at $295,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in TRI Pointe Group by 1.6% in the second quarter. Vanguard Group Inc. now owns 12,202,998 shares of the construction company’s stock valued at $160,958,000 after acquiring an additional 192,415 shares during the last quarter.
Shares of TRI Pointe Group, Inc. (NYSE:TPH) opened at 16.97 on Friday. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 20.15 and a beta of 1.68. The stock’s 50 day moving average price is $13.92 and its 200-day moving average price is $13.15. TRI Pointe Group, Inc. has a 52 week low of $10.35 and a 52 week high of $17.20.
TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $717.40 million for the quarter, compared to analyst estimates of $706.65 million. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The company’s revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. Equities analysts predict that TRI Pointe Group, Inc. will post $1.33 earnings per share for the current year.
TRI Pointe Group declared that its board has initiated a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, CFO Michael D. Grubbs sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $15.02, for a total transaction of $4,506,000.00. Following the transaction, the chief financial officer now directly owns 163,828 shares in the company, valued at approximately $2,460,696.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 9.40% of the stock is currently owned by corporate insiders.
A number of research analysts have issued reports on the company. FBR & Co reiterated a “buy” rating and issued a $20.00 target price on shares of TRI Pointe Group in a research report on Thursday. Barclays PLC set a $17.00 target price on TRI Pointe Group and gave the company a “hold” rating in a research report on Thursday. Gabelli lifted their target price on TRI Pointe Group from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday. JMP Securities lifted their price target on TRI Pointe Group from $16.00 to $18.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, BTIG Research raised TRI Pointe Group from a “sell” rating to a “neutral” rating and set a $15.00 price target on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.30.
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About TRI Pointe Group
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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