Insider Buying: Carlson Capital L. P Purchases 827,549 Shares of TRI Pointe Homes Stock (TPH)
TRI Pointe Homes (NYSE:TPH) major shareholder Carlson Capital L. P purchased 827,549 shares of TRI Pointe Homes stock on the open market in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $15.50 per share, with a total value of $12,827,009.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
TRI Pointe Homes (NYSE:TPH) traded down 2.37% on Friday, hitting $14.81. The stock had a trading volume of 5,227,017 shares. TRI Pointe Homes has a one year low of $13.43 and a one year high of $20.29. The stock has a 50-day moving average of $15.83 and a 200-day moving average of $16.87. The company has a market cap of $468.5 million and a P/E ratio of 24.71. TRI Pointe Homes also was the recipient of unusually large options trading on Tuesday. Traders purchased 34,942 put options on the company. This represents an increase of 167% compared to the average volume of 13,066 put options.
TRI Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.05. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $59.80 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 160.9% on a year-over-year basis. On average, analysts predict that TRI Pointe Homes will post $1.00 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Paradigm Capital reiterated a “buy” rating on shares of TRI Pointe Homes in a research note on Friday, May 16th. They now have a $8.00 price target on the stock, down previously from $8.50. Separately, analysts at Sidoti upgraded shares of TRI Pointe Homes from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. Finally, analysts at Scotiabank reiterated a “sector perform” rating on shares of TRI Pointe Homes in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. TRI Pointe Homes has a consensus rating of “Hold” and an average price target of $17.31.
Tri Pointe Homes, Inc, formerly TRI Pointe Homes, LLC is engaged in the design, construction and sale of single-family homes in planned communities in metropolitan areas located throughout Southern and Northern California.
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