Neo Ivy Capital Management Invests $911,000 in Tri Pointe Homes Inc. (NYSE:TPH)

Neo Ivy Capital Management bought a new position in Tri Pointe Homes Inc. (NYSE:TPH) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,546 shares of the construction company’s stock, valued at approximately $911,000.

Other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Tri Pointe Homes by 8.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock valued at $126,000 after purchasing an additional 287 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after purchasing an additional 335 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Tri Pointe Homes by 5.0% during the first quarter. Xponance Inc. now owns 7,095 shares of the construction company’s stock valued at $226,000 after purchasing an additional 336 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of Tri Pointe Homes by 8.3% during the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company’s stock valued at $210,000 after purchasing an additional 442 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Tri Pointe Homes by 5.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,645 shares of the construction company’s stock valued at $350,000 after purchasing an additional 488 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Down 0.5%

TPH stock opened at $31.59 on Friday. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $47.78. The business’s 50-day moving average is $31.64 and its two-hundred day moving average is $32.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.97 and a current ratio of 1.79. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 0.83 and a beta of 1.25.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. Tri Pointe Homes’s revenue was down 22.3% on a year-over-year basis. As a group, analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has approved a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other news, CEO Douglas F. Bauer sold 120,287 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the transaction, the chief executive officer owned 627,833 shares of the company’s stock, valued at $18,929,164.95. This trade represents a 16.08% 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. 2.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPH. Evercore ISI lowered their price target on Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $43.00 price target on shares of Tri Pointe Homes in a report on Friday. Finally, Wall Street Zen downgraded Tri Pointe Homes from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.80.

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.