TRI Pointe Group Inc (TPH) Stake Lessened by Maltese Capital Management LLC

Maltese Capital Management LLC lowered its position in TRI Pointe Group Inc (NYSE:TPH) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,800 shares of the construction company’s stock after selling 41,200 shares during the period. Maltese Capital Management LLC owned about 0.19% of TRI Pointe Group worth $4,663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPH. BlackRock Inc. lifted its stake in TRI Pointe Group by 4.0% in the 4th quarter. BlackRock Inc. now owns 19,037,872 shares of the construction company’s stock valued at $341,159,000 after purchasing an additional 729,721 shares during the last quarter. Thornburg Investment Management Inc. increased its holdings in shares of TRI Pointe Group by 1.0% during the first quarter. Thornburg Investment Management Inc. now owns 2,779,466 shares of the construction company’s stock worth $45,667,000 after purchasing an additional 27,427 shares during the period. Renaissance Technologies LLC bought a new position in TRI Pointe Group in the fourth quarter valued at approximately $36,591,000. Deutsche Bank AG increased its stake in TRI Pointe Group by 374.4% in the fourth quarter. Deutsche Bank AG now owns 2,004,693 shares of the construction company’s stock valued at $35,922,000 after acquiring an additional 1,582,141 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in TRI Pointe Group by 0.4% in the first quarter. Victory Capital Management Inc. now owns 1,843,468 shares of the construction company’s stock valued at $30,288,000 after acquiring an additional 7,235 shares during the last quarter.

In related news, CEO Douglas F. Bauer sold 3,900 shares of the business’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $17.75, for a total value of $69,225.00. Following the sale, the chief executive officer now owns 168,479 shares in the company, valued at $2,990,502.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas F. Bauer sold 28,928 shares of the business’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $17.76, for a total transaction of $513,761.28. Following the completion of the sale, the chief executive officer now owns 168,479 shares in the company, valued at approximately $2,992,187.04. The disclosure for this sale can be found here. Insiders sold 249,868 shares of company stock valued at $4,410,665 over the last quarter. Company insiders own 1.70% of the company’s stock.

A number of brokerages have weighed in on TPH. Wedbush restated an “outperform” rating and issued a $21.00 target price on shares of TRI Pointe Group in a research report on Wednesday, February 21st. Zacks Investment Research lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Gabelli downgraded shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. JMP Securities boosted their target price on shares of TRI Pointe Group from $20.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Friday, April 27th. Finally, ValuEngine downgraded shares of TRI Pointe Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. TRI Pointe Group has an average rating of “Hold” and an average price target of $19.00.

Shares of TPH opened at $16.76 on Tuesday. TRI Pointe Group Inc has a twelve month low of $12.28 and a twelve month high of $19.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.78 and a beta of 1.47.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Wednesday, April 25th. The construction company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $586.20 million during the quarter, compared to analysts’ expectations of $552.11 million. TRI Pointe Group had a net margin of 7.40% and a return on equity of 13.55%. TRI Pointe Group’s revenue was up 49.5% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. equities research analysts forecast that TRI Pointe Group Inc will post 1.86 EPS for the current fiscal year.

TRI Pointe Group announced that its board has authorized a share buyback program on Tuesday, February 20th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

TRI Pointe Group Profile

TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.

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