Point72 Asia Hong Kong Ltd lifted its holdings in shares of TRI Pointe Group Inc (NYSE:TPH) by 1,809.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,141 shares of the construction company’s stock after buying an additional 6,767 shares during the period. Point72 Asia Hong Kong Ltd’s holdings in TRI Pointe Group were worth $117,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of TRI Pointe Group by 108.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,504 shares of the construction company’s stock valued at $123,000 after buying an additional 3,909 shares during the last quarter. KCS Wealth Advisory acquired a new position in TRI Pointe Group during the 1st quarter valued at about $182,000. Zeke Capital Advisors LLC acquired a new position in TRI Pointe Group during the 4th quarter valued at about $201,000. LPL Financial LLC acquired a new position in TRI Pointe Group during the 1st quarter valued at about $209,000. Finally, M&T Bank Corp acquired a new position in TRI Pointe Group during the 1st quarter valued at about $225,000.
TPH has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. ValuEngine lowered shares of TRI Pointe Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 9th. Wedbush reissued an “outperform” rating and set a $21.00 target price on shares of TRI Pointe Group in a research note on Wednesday, April 25th. JMP Securities boosted their target price on shares of TRI Pointe Group from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, April 27th. Finally, Gabelli lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.00.
In other news, CEO Douglas F. Bauer sold 28,928 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $17.76, for a total value of $513,761.28. Following the completion of the sale, the chief executive officer now directly owns 168,479 shares of the company’s stock, valued at approximately $2,992,187.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael D. Grubbs sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $17.62, for a total transaction of $1,762,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,764 shares of the company’s stock, valued at $1,211,621.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,868 shares of company stock valued at $4,410,665. Company insiders own 1.70% of the company’s stock.
Shares of NYSE:TPH opened at $16.76 on Tuesday. The company has a market capitalization of $2.58 billion, a PE ratio of 10.16, a P/E/G ratio of 0.78 and a beta of 1.47. TRI Pointe Group Inc has a twelve month low of $12.28 and a twelve month high of $19.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.75.
TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Wednesday, April 25th. The construction company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $586.20 million during the quarter, compared to analyst estimates of $552.11 million. TRI Pointe Group had a net margin of 7.40% and a return on equity of 13.55%. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. equities analysts forecast that TRI Pointe Group Inc will post 1.86 earnings per share for the current year.
TRI Pointe Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
TRI Pointe Group Profile
TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.
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