Aigen Investment Management LP decreased its position in Tri Pointe Homes Inc. (NYSE:TPH – Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,651 shares of the construction company’s stock after selling 2,249 shares during the period. Aigen Investment Management LP’s holdings in Tri Pointe Homes were worth $627,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its holdings in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after buying an additional 335 shares during the period. Sterling Capital Management LLC lifted its holdings in Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after buying an additional 1,831 shares during the period. CWM LLC lifted its holdings in Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company’s stock valued at $121,000 after buying an additional 1,534 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Tri Pointe Homes by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company’s stock valued at $130,000 after buying an additional 1,445 shares during the period. Finally, Hancock Whitney Corp lifted its holdings in Tri Pointe Homes by 8.3% in the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company’s stock valued at $210,000 after buying an additional 442 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.
Tri Pointe Homes Trading Down 0.4%
NYSE:TPH opened at $32.86 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a 50-day moving average of $32.11 and a 200-day moving average of $32.01. The company has a market cap of $2.98 billion, a PE ratio of 8.36, a PEG ratio of 0.89 and a beta of 1.22. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91.
Tri Pointe Homes announced that its board has approved a stock repurchase program on Thursday, July 24th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research firms have weighed in on TPH. Evercore ISI decreased their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research downgraded shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Finally, Wall Street Zen downgraded shares of Tri Pointe Homes from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.
View Our Latest Research Report on TPH
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.
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