MML Investors Services LLC Purchases Shares of 5,428 Tri Pointe Homes, Inc. (NYSE:TPH)

MML Investors Services LLC acquired a new position in Tri Pointe Homes, Inc. (NYSE:TPH) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 5,428 shares of the construction company’s stock, valued at approximately $246,000.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in Tri Pointe Homes in the 3rd quarter worth approximately $45,000. Blue Trust Inc. increased its stake in shares of Tri Pointe Homes by 33.5% in the third quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after purchasing an additional 594 shares in the last quarter. Quarry LP raised its position in shares of Tri Pointe Homes by 123.3% during the 2nd quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after purchasing an additional 1,326 shares during the period. GAMMA Investing LLC lifted its stake in shares of Tri Pointe Homes by 75.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock valued at $121,000 after buying an additional 1,149 shares in the last quarter. Finally, CWM LLC increased its stake in Tri Pointe Homes by 39.3% in the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock worth $140,000 after buying an additional 872 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

TPH has been the topic of several research analyst reports. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Oppenheimer cut 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 report on Friday, October 25th. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, Royal Bank of Canada cut their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Stock Up 0.5 %

NYSE TPH opened at $37.16 on Thursday. The stock has a 50 day moving average price of $41.57 and a 200-day moving average price of $41.85. Tri Pointe Homes, Inc. has a one year low of $33.24 and a one year high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $3.48 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.64 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating 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 analyst estimates of $1.05 billion. During the same quarter last year, the business earned $0.76 earnings per share. Tri Pointe Homes’s quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities analysts predict that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has authorized a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.