Horizon Kinetics Asset Management LLC Sells 16,000 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Horizon Kinetics Asset Management LLC lessened its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 11.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 124,012 shares of the construction company’s stock after selling 16,000 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.13% of Tri Pointe Homes worth $4,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in Tri Pointe Homes by 84.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after acquiring an additional 613 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after acquiring an additional 300 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,900 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after acquiring an additional 789 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Tri Pointe Homes by 72.8% during the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after acquiring an additional 1,725 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TPH shares. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Wedbush restated a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Evercore ISI cut their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, two have issued 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 $40.60.

Tri Pointe Homes Stock Up 1.2 %

Shares of TPH opened at $31.52 on Monday. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78. The company has a market cap of $2.89 billion, a P/E ratio of 6.53, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $34.65 and a two-hundred day simple moving average of $39.43.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Tri Pointe Homes

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.