Taylor Morrison Home Corporation (TMHC) Sees Significant Growth in Short Interest

Taylor Morrison Home Corporation (NYSE:TMHC) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,583,870 shares, a growth of 41.3% from the October 13th total of 1,120,685 shares. Based on an average daily volume of 962,993 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.2% of the shares of the stock are sold short.

Shares of Taylor Morrison Home Corporation (NYSE TMHC) opened at $23.45 on Friday. The stock has a market capitalization of $2,770.00, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.07 and a beta of 1.48. Taylor Morrison Home Corporation has a 52-week low of $18.26 and a 52-week high of $24.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.85 and a quick ratio of 0.81.

Taylor Morrison Home Corporation (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $908.00 million during the quarter, compared to the consensus estimate of $914.19 million. Taylor Morrison Home Corporation had a return on equity of 4.18% and a net margin of 2.41%. Taylor Morrison Home Corporation’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. analysts anticipate that Taylor Morrison Home Corporation will post 1.84 EPS for the current year.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Taylor Morrison Home Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. BidaskClub upgraded Taylor Morrison Home Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. B. Riley reiterated a “neutral” rating on shares of Taylor Morrison Home Corporation in a research report on Thursday, November 2nd. Deutsche Bank AG increased their target price on Taylor Morrison Home Corporation from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, ValuEngine downgraded Taylor Morrison Home Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.00.

In other Taylor Morrison Home Corporation news, insider C. David Cone sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total value of $832,650.00. Following the completion of the transaction, the insider now directly owns 42,511 shares in the company, valued at approximately $1,011,336.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its position in Taylor Morrison Home Corporation by 4.7% in the first quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock worth $147,000 after buying an additional 307 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Taylor Morrison Home Corporation by 20.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock worth $154,000 after buying an additional 1,110 shares during the last quarter. Victory Capital Management Inc. lifted its position in Taylor Morrison Home Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,429 shares of the construction company’s stock worth $178,000 after buying an additional 1,114 shares during the last quarter. Paloma Partners Management Co lifted its position in Taylor Morrison Home Corporation by 10.5% in the first quarter. Paloma Partners Management Co now owns 11,808 shares of the construction company’s stock worth $251,000 after buying an additional 1,126 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Taylor Morrison Home Corporation by 11.6% in the first quarter. Parametric Portfolio Associates LLC now owns 16,219 shares of the construction company’s stock worth $346,000 after buying an additional 1,692 shares during the last quarter. Institutional investors own 59.08% of the company’s stock.

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About Taylor Morrison Home Corporation

Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).

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