Highland Capital Management LLC Purchases 368 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Highland Capital Management LLC boosted its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,852 shares of the construction company’s stock after buying an additional 368 shares during the period. Highland Capital Management LLC’s holdings in Tri Pointe Homes were worth $212,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Tri Pointe Homes in the third quarter valued at about $45,000. Nisa Investment Advisors LLC grew its stake in shares of Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after purchasing an additional 789 shares during the period. Blue Trust Inc. raised its holdings in shares of Tri Pointe Homes by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after buying an additional 594 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Tri Pointe Homes by 75.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock worth $121,000 after buying an additional 1,149 shares during the period. Finally, CWM LLC boosted its stake in Tri Pointe Homes by 39.3% in the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock valued at $140,000 after buying an additional 872 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Down 2.9 %

Shares of NYSE TPH opened at $36.86 on Friday. Tri Pointe Homes, Inc. has a 12-month low of $33.24 and a 12-month high of $47.78. The firm’s 50-day simple moving average is $38.52 and its 200 day simple moving average is $41.65. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 0.59 and a beta of 1.64.

Tri Pointe Homes announced that its board has authorized a share repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on TPH shares. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush restated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Oppenheimer dropped their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada reduced their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Company Profile

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.