Verition Fund Management LLC Has $3.15 Million Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Verition Fund Management LLC increased its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 75.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,414 shares of the construction company’s stock after purchasing an additional 29,935 shares during the period. Verition Fund Management LLC’s holdings in Tri Pointe Homes were worth $3,145,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in shares of Tri Pointe Homes by 19.2% during the third quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after buying an additional 33,629 shares in the last quarter. SG Americas Securities LLC boosted its stake in Tri Pointe Homes by 3,110.4% in the second quarter. SG Americas Securities LLC now owns 107,710 shares of the construction company’s stock valued at $4,012,000 after acquiring an additional 104,355 shares during the last quarter. Federated Hermes Inc. boosted its stake in Tri Pointe Homes by 10,048.1% in the second quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 34,666 shares during the last quarter. Millennium Management LLC boosted its position in shares of Tri Pointe Homes by 14.1% during the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after purchasing an additional 114,244 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after purchasing an additional 1,024,425 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TPH shares. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 17th. Oppenheimer lowered their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wedbush restated a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Stock Performance

NYSE TPH opened at $42.21 on Thursday. 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 company has a market capitalization of $3.95 billion, a P/E ratio of 8.76, a P/E/G ratio of 0.71 and a beta of 1.60. Tri Pointe Homes, Inc. has a 12-month low of $30.09 and a 12-month high of $47.78. The firm has a 50-day moving average price of $43.03 and a two-hundred day moving average price of $41.75.

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

Insider Buying and Selling at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.

Tri Pointe Homes Company 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.