Readystate Asset Management LP Purchases New Position in Taylor Morrison Home Corporation $TMHC

Readystate Asset Management LP purchased a new stake in Taylor Morrison Home Corporation (NYSE:TMHC) during the 1st quarter, Holdings Channel.com reports. The fund purchased 35,961 shares of the construction company’s stock, valued at approximately $2,094,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMHC. Miller Capital Partners Inc. purchased a new stake in shares of Taylor Morrison Home during the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. acquired a new position in shares of Taylor Morrison Home in the 4th quarter valued at $33,000. Root Financial Partners LLC grew its position in shares of Taylor Morrison Home by 65.7% in the 1st quarter. Root Financial Partners LLC now owns 638 shares of the construction company’s stock valued at $37,000 after buying an additional 253 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Taylor Morrison Home in the 4th quarter valued at $40,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Taylor Morrison Home during the 4th quarter worth $45,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TMHC. Barclays restated an “equal weight” rating and issued a $73.00 price objective (up from $69.00) on shares of Taylor Morrison Home in a research note on Tuesday, July 14th. Zacks Research upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada downgraded Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $69.00 to $72.50 in a report on Tuesday, June 2nd. Bank of America decreased their target price on Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Taylor Morrison Home in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.43.

Taylor Morrison Home Stock Performance

NYSE TMHC opened at $72.45 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 7.66. The firm has a market cap of $6.77 billion, a PE ratio of 10.81, a P/E/G ratio of 1.70 and a beta of 1.44. Taylor Morrison Home Corporation has a one year low of $54.15 and a one year high of $72.50. The firm’s fifty day moving average is $69.71 and its two-hundred day moving average is $64.50.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.