Cresset Asset Management LLC Sells 21,804 Shares of Taylor Morrison Home Corporation $TMHC

Cresset Asset Management LLC lowered its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 17.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 102,331 shares of the construction company’s stock after selling 21,804 shares during the period. Cresset Asset Management LLC’s holdings in Taylor Morrison Home were worth $6,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in Taylor Morrison Home during the 2nd quarter worth about $28,000. AlphaCore Capital LLC bought a new stake in shares of Taylor Morrison Home during the second quarter valued at about $37,000. Parallel Advisors LLC lifted its holdings in shares of Taylor Morrison Home by 29.9% in the second quarter. Parallel Advisors LLC now owns 882 shares of the construction company’s stock worth $54,000 after buying an additional 203 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Taylor Morrison Home by 30.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company’s stock valued at $55,000 after acquiring an additional 211 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Taylor Morrison Home by 406.8% during the second quarter. EverSource Wealth Advisors LLC now owns 897 shares of the construction company’s stock valued at $55,000 after acquiring an additional 720 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TMHC. Bank of America lowered their target price on shares of Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. Royal Bank Of Canada lowered their price objective on Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings upgraded Taylor Morrison Home from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 1st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Taylor Morrison Home in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $75.29.

Insider Activity at Taylor Morrison Home

In related news, Director Anne L. Mariucci sold 14,002 shares of Taylor Morrison Home stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $70.00, for a total transaction of $980,140.00. Following the sale, the director directly owned 48,191 shares in the company, valued at $3,373,370. The trade was a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Taylor Morrison Home Price Performance

Shares of Taylor Morrison Home stock opened at $62.45 on Friday. The business’s 50-day moving average price is $61.57 and its 200-day moving average price is $62.78. The firm has a market capitalization of $6.10 billion, a PE ratio of 7.52 and a beta of 1.57. Taylor Morrison Home Corporation has a 12 month low of $51.90 and a 12 month high of $72.50. The company has a current ratio of 7.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.35.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, October 22nd. The construction company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.18. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Taylor Morrison Home had a return on equity of 15.23% and a net margin of 10.16%.Taylor Morrison Home’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.40 EPS. Sell-side analysts forecast that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

About Taylor Morrison Home

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.