Legacy Wealth Asset Management LLC Makes New Investment in Tri Pointe Homes, Inc. (NYSE:TPH)

Legacy Wealth Asset Management LLC acquired a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 4,798 shares of the construction company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its position in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after purchasing an additional 1,024,425 shares during the period. Renaissance Technologies LLC raised its holdings in Tri Pointe Homes by 1,417.8% during the second quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock valued at $16,529,000 after acquiring an additional 414,500 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Tri Pointe Homes by 149.5% in the second quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock valued at $19,907,000 after acquiring an additional 320,221 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tri Pointe Homes in the second quarter worth about $9,599,000. Finally, Jane Street Group LLC grew its position in shares of Tri Pointe Homes by 171.3% during the first quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock worth $11,352,000 after purchasing an additional 185,395 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Activity

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at $6,882,825.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH opened at $40.28 on Friday. The firm has a fifty day simple moving average of $43.98 and a two-hundred day simple moving average of $40.83. Tri Pointe Homes, Inc. has a 52 week low of $24.18 and a 52 week high of $47.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.77 billion, a P/E ratio of 9.15, a PEG ratio of 0.70 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue was up 34.9% on a year-over-year basis. On average, analysts expect that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research note on Tuesday, September 17th. Wedbush reiterated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Profile

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.