Tri Pointe Homes Inc. (TPH) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. reduced its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,056,691 shares of the company’s stock after selling 44,172 shares during the period. JPMorgan Chase & Co. owned about 0.66% of Tri Pointe Homes worth $12,490,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in TPH. LS Investment Advisors LLC raised its stake in shares of Tri Pointe Homes by 65.8% in the second quarter. LS Investment Advisors LLC now owns 8,974 shares of the company’s stock worth $106,000 after buying an additional 3,563 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Tri Pointe Homes during the first quarter worth about $118,000. HBK Investments L P purchased a new stake in shares of Tri Pointe Homes during the first quarter worth about $134,000. Fox Run Management L.L.C. purchased a new stake in shares of Tri Pointe Homes during the second quarter worth about $155,000. Finally, Quantum Capital Management raised its stake in shares of Tri Pointe Homes by 19.0% in the first quarter. Quantum Capital Management now owns 13,835 shares of the company’s stock worth $163,000 after buying an additional 2,205 shares during the last quarter. 98.27% of the stock is currently owned by institutional investors.
Tri Pointe Homes Inc. (NYSE:TPH) traded down 2.05% during trading on Monday, reaching $12.91. The company had a trading volume of 433,534 shares. The company has a market capitalization of $2.07 billion, a PE ratio of 8.79 and a beta of 1.61. Tri Pointe Homes Inc. has a 52-week low of $8.83 and a 52-week high of $14.60. The stock has a 50 day moving average price of $13.24 and a 200-day moving average price of $12.38.
Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.18. The company had revenue of $556.93 million for the quarter, compared to analyst estimates of $545.23 million. Tri Pointe Homes had a net margin of 9.23% and a return on equity of 14.02%. Tri Pointe Homes’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. On average, equities research analysts anticipate that Tri Pointe Homes Inc. will post $1.26 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the company. FBR & Co upped their price objective on Tri Pointe Homes from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Citigroup Inc. upped their price objective on Tri Pointe Homes from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research raised Tri Pointe Homes from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Saturday, July 30th. Wells Fargo & Co. assumed coverage on Tri Pointe Homes in a research report on Wednesday, September 28th. They set a “market perform” rating on the stock. Finally, TheStreet raised Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $15.79.
About Tri Pointe Homes
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. The Company’s homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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