Michael D. Grubbs Sells 100,000 Shares of TRI Pointe Group Inc (TPH) Stock

TRI Pointe Group Inc (NYSE:TPH) CFO Michael D. Grubbs sold 100,000 shares of the business’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $17.62, for a total transaction of $1,762,000.00. Following the transaction, the chief financial officer now owns 68,764 shares of the company’s stock, valued at $1,211,621.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

TRI Pointe Group opened at $17.26 on Friday, according to Marketbeat.com. TRI Pointe Group Inc has a one year low of $12.11 and a one year high of $19.55. The firm has a market cap of $2.67 billion, a PE ratio of 12.15, a PEG ratio of 0.82 and a beta of 1.44. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.75.

TRI Pointe Group (NYSE:TPH) last announced its earnings results on Wednesday, April 25th. The construction company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. TRI Pointe Group had a net margin of 7.40% and a return on equity of 13.55%. The company had revenue of $586.20 million during the quarter, compared to analyst estimates of $552.11 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. sell-side analysts forecast that TRI Pointe Group Inc will post 1.85 EPS for the current fiscal year.

TRI Pointe Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in TRI Pointe Group by 4.0% in the fourth quarter. BlackRock Inc. now owns 19,037,872 shares of the construction company’s stock worth $341,159,000 after acquiring an additional 729,721 shares in the last quarter. Thornburg Investment Management Inc. grew its position in TRI Pointe Group by 1.0% in the first quarter. Thornburg Investment Management Inc. now owns 2,779,466 shares of the construction company’s stock worth $45,667,000 after acquiring an additional 27,427 shares in the last quarter. Renaissance Technologies LLC purchased a new position in TRI Pointe Group in the fourth quarter worth $36,591,000. Deutsche Bank AG grew its position 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 worth $35,922,000 after acquiring an additional 1,582,141 shares in the last quarter. Finally, Millennium Management LLC grew its position in TRI Pointe Group by 18.7% in the first quarter. Millennium Management LLC now owns 1,972,304 shares of the construction company’s stock worth $32,405,000 after acquiring an additional 310,739 shares in the last quarter.

A number of research analysts have recently commented on TPH shares. Zacks Investment Research upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Saturday, April 28th. ValuEngine lowered shares of TRI Pointe Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. Gabelli lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. JMP Securities boosted their price target on shares of TRI Pointe Group from $20.00 to $21.00 and gave the company a “market outperform” rating in a research report on Friday, April 27th. Finally, Wedbush restated an “outperform” rating and set a $21.00 price target on shares of TRI Pointe Group in a research report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.00.

About TRI Pointe Group

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.

Insider Buying and Selling by Quarter for TRI Pointe Group (NYSE:TPH)

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