Thornburg Investment Management Inc. increased its stake in shares of TRI Pointe Group Inc (NYSE:TPH) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,569,397 shares of the construction company’s stock after buying an additional 41,971 shares during the period. Thornburg Investment Management Inc. owned about 1.62% of TRI Pointe Group worth $32,220,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Meadow Creek Investment Management LLC increased its position in shares of TRI Pointe Group by 26.8% in the first quarter. Meadow Creek Investment Management LLC now owns 9,180 shares of the construction company’s stock worth $115,000 after buying an additional 1,938 shares in the last quarter. FJ Capital Management LLC acquired a new position in shares of TRI Pointe Group during the fourth quarter worth approximately $116,000. Glassman Wealth Services acquired a new position in shares of TRI Pointe Group during the fourth quarter worth approximately $145,000. Trexquant Investment LP acquired a new position in shares of TRI Pointe Group during the first quarter worth approximately $178,000. Finally, Princeton Alpha Management LP acquired a new position in shares of TRI Pointe Group during the first quarter worth approximately $179,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.
TRI Pointe Group Inc (NYSE:TPH) traded up 1.19% during midday trading on Friday, hitting $12.74. The stock had a trading volume of 1,292,392 shares. The stock has a market cap of $2.02 billion, a PE ratio of 11.76 and a beta of 1.73. TRI Pointe Group Inc has a 52-week low of $10.35 and a 52-week high of $14.20. The company’s 50 day moving average price is $12.38 and its 200-day moving average price is $12.13.
TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings results on Wednesday, April 26th. The construction company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03. TRI Pointe Group had a net margin of 8.87% and a return on equity of 12.73%. The company had revenue of $392 million during the quarter, compared to analysts’ expectations of $364.07 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. Analysts forecast that TRI Pointe Group Inc will post $1.29 EPS for the current fiscal year.
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A number of brokerages recently commented on TPH. Zacks Investment Research upgraded TRI Pointe Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Wedbush restated an “outperform” rating and set a $16.00 target price on shares of TRI Pointe Group in a report on Sunday, April 2nd. Barclays PLC restated an “overweight” rating and set a $14.00 target price on shares of TRI Pointe Group in a report on Tuesday, March 7th. Deutsche Bank AG downgraded TRI Pointe Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $17.00 to $13.00 in a report on Monday, February 27th. Finally, FBR & Co restated an “outperform” rating and set a $16.00 target price on shares of TRI Pointe Group in a report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. TRI Pointe Group has an average rating of “Hold” and a consensus target price of $14.38.
In other news, Director Barry S. Sternlicht sold 11,985,905 shares of TRI Pointe Group stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $12.76, for a total value of $152,940,147.80. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 9.40% of the company’s stock.
TRI Pointe Group Company Profile
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its 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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