Taylor Morrison Home Corporation (TMHC) Sees Large Growth in Short Interest

Taylor Morrison Home Corporation (NYSE:TMHC) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,472,405 shares, an increase of 57.6% from the January 12th total of 1,568,589 shares. Based on an average daily trading volume, of 2,201,301 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.0% of the shares of the company are short sold.

In other news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total value of $40,702,726.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its stake in Taylor Morrison Home by 62.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock worth $129,000 after purchasing an additional 2,060 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Taylor Morrison Home by 37.3% in the third quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock valued at $225,000 after acquiring an additional 2,768 shares in the last quarter. Smith Asset Management Group LP raised its stake in shares of Taylor Morrison Home by 18.1% in the third quarter. Smith Asset Management Group LP now owns 20,286 shares of the construction company’s stock valued at $447,000 after acquiring an additional 3,103 shares in the last quarter. Fox Run Management L.L.C. raised its stake in shares of Taylor Morrison Home by 9.6% in the third quarter. Fox Run Management L.L.C. now owns 37,600 shares of the construction company’s stock valued at $829,000 after acquiring an additional 3,300 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Taylor Morrison Home by 34.7% in the second quarter. UBS Asset Management Americas Inc. now owns 16,300 shares of the construction company’s stock valued at $391,000 after acquiring an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 57.40% of the company’s stock.

Shares of Taylor Morrison Home (NYSE:TMHC) opened at $24.44 on Thursday. Taylor Morrison Home has a 52 week low of $18.65 and a 52 week high of $28.42. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2,830.00, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.07. Taylor Morrison Home had a return on equity of 5.82% and a net margin of 2.36%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business earned $0.63 EPS. Taylor Morrison Home’s quarterly revenue was up 8.6% on a year-over-year basis. equities analysts anticipate that Taylor Morrison Home will post 2.6 earnings per share for the current year.

Taylor Morrison Home declared that its board has approved a share repurchase plan on Wednesday, January 3rd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Several equities analysts have recently issued reports on the company. B. Riley boosted their price objective on Taylor Morrison Home from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Barclays set a $28.00 price objective on Taylor Morrison Home and gave the company an “equal weight” rating in a report on Thursday, February 8th. JMP Securities upgraded Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Thursday, February 8th. BidaskClub lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Finally, Citigroup upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $28.22.

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About Taylor Morrison Home

Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).

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