Assenagon Asset Management S.A. Cuts Stock Holdings in Tri Pointe Homes Inc. $TPH

Assenagon Asset Management S.A. reduced its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 53.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,340 shares of the construction company’s stock after selling 577,271 shares during the quarter. Assenagon Asset Management S.A. owned about 0.56% of Tri Pointe Homes worth $17,166,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Tri Pointe Homes by 19.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company’s stock valued at $76,000 after purchasing an additional 389 shares in the last quarter. Blue Trust Inc. raised its holdings in Tri Pointe Homes by 16.6% during the second quarter. Blue Trust Inc. now owns 2,982 shares of the construction company’s stock worth $95,000 after purchasing an additional 424 shares during the last quarter. Atria Investments Inc grew its holdings in Tri Pointe Homes by 2.1% in the second quarter. Atria Investments Inc now owns 20,685 shares of the construction company’s stock valued at $661,000 after purchasing an additional 427 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Tri Pointe Homes by 5.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,772 shares of the construction company’s stock valued at $312,000 after purchasing an additional 500 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Tri Pointe Homes by 1.7% in the second quarter. QRG Capital Management Inc. now owns 32,326 shares of the construction company’s stock valued at $1,033,000 after buying an additional 545 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on TPH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $34.00 price target (down previously from $38.00) on shares of Tri Pointe Homes in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Tri Pointe Homes Trading Down 2.7%

Shares of TPH stock opened at $32.10 on Friday. The firm’s 50-day simple moving average is $32.53 and its 200-day simple moving average is $33.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 2.01. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $38.96. The firm has a market cap of $2.76 billion, a P/E ratio of 9.47, a PEG ratio of 0.86 and a beta of 1.33.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 23rd. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.20. The company had revenue of $836.87 million during the quarter, compared to analysts’ expectations of $782.22 million. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The business’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. As a group, equities analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.