EMC Capital Management Sells 6,973 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

EMC Capital Management trimmed its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 34.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,373 shares of the construction company’s stock after selling 6,973 shares during the quarter. EMC Capital Management’s holdings in Tri Pointe Homes were worth $485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of Tri Pointe Homes during the third quarter valued at approximately $45,000. Nisa Investment Advisors LLC grew its position in Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after acquiring an additional 789 shares during the last quarter. Quarry LP increased its stake in Tri Pointe Homes by 123.3% in the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after purchasing an additional 1,326 shares during the period. Blue Trust Inc. lifted its position in shares of Tri Pointe Homes by 33.5% during 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 during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Tri Pointe Homes by 75.6% during the third quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock valued at $121,000 after purchasing an additional 1,149 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $37.45 on Thursday. Tri Pointe Homes, Inc. has a one year low of $33.24 and a one year high of $47.78. The company has a market capitalization of $3.51 billion, a PE ratio of 7.78, a P/E/G ratio of 0.60 and a beta of 1.64. 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 50-day simple moving average of $38.70 and a two-hundred day simple moving average of $41.71.

Tri Pointe Homes announced that its Board of Directors has approved a share buyback program on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, October 24th. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. 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 for the company in a research note on Friday, October 25th. Finally, Oppenheimer cut their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

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.