Paloma Partners Management Co Purchases 8,572 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Paloma Partners Management Co boosted its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 119.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,772 shares of the construction company’s stock after purchasing an additional 8,572 shares during the period. Paloma Partners Management Co’s holdings in Tri Pointe Homes were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TPH. Gradient Investments LLC purchased a new stake in Tri Pointe Homes in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in shares of Tri Pointe Homes during the 3rd quarter worth $45,000. GAMMA Investing LLC increased its stake in shares of Tri Pointe Homes by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after buying an additional 588 shares during the period. Blue Trust Inc. raised its holdings in shares of Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after acquiring an additional 427 shares in the last quarter. Finally, CWM LLC lifted its stake in Tri Pointe Homes by 70.8% in the second quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after acquiring an additional 920 shares during the period. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TPH has been the subject of a number of recent research reports. Oppenheimer reduced their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada decreased their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research note on Tuesday, September 17th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Tri Pointe Homes Stock Performance

TPH opened at $43.33 on Wednesday. The company has a market cap of $4.06 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.71 and a beta of 1.60. Tri Pointe Homes, Inc. has a 52-week low of $29.83 and a 52-week high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $43.07 and its 200-day moving average price is $41.75.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, equities analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 EPS 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.