TRI Pointe Group, Inc. (TPH) CFO Michael D. Grubbs Sells 300,000 Shares of Stock

TRI Pointe Group, Inc. (NYSE:TPH) CFO Michael D. Grubbs sold 300,000 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $15.02, for a total value of $4,506,000.00. Following the completion of the transaction, the chief financial officer now directly owns 163,828 shares in the company, valued at approximately $2,460,696.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of TRI Pointe Group, Inc. (NYSE:TPH) traded up 1.70% during mid-day trading on Friday, hitting $15.54. The company’s stock had a trading volume of 2,456,985 shares. TRI Pointe Group, Inc. has a 52-week low of $10.35 and a 52-week high of $15.64. The stock’s 50 day moving average price is $13.68 and its 200 day moving average price is $13.07. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 18.46 and a beta of 1.68.

TRI Pointe Group (NYSE:TPH) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $568.80 million for the quarter, compared to the consensus estimate of $563.72 million. TRI Pointe Group had a return on equity of 7.32% and a net margin of 5.77%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Equities analysts forecast that TRI Pointe Group, Inc. will post $1.33 EPS for the current year.

TRI Pointe Group declared that its board has initiated a share buyback program on Wednesday, July 26th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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Several research firms have weighed in on TPH. Citigroup Inc. cut TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Thursday, July 27th. BidaskClub raised TRI Pointe Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research raised TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, July 19th. Wedbush reissued an “outperform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of TRI Pointe Group in a research report on Friday. Finally, TheStreet raised TRI Pointe Group from a “c” rating to a “b-” rating in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. TRI Pointe Group currently has an average rating of “Hold” and an average target price of $14.13.

Hedge funds have recently added to or reduced their stakes in the company. World Asset Management Inc purchased a new position in shares of TRI Pointe Group in the 2nd quarter worth $132,000. Shelton Capital Management purchased a new position in shares of TRI Pointe Group in the 2nd quarter worth $146,000. Cornerstone Financial Partners LLC purchased a new position in shares of TRI Pointe Group in the 2nd quarter worth $148,000. Riverhead Capital Management LLC boosted its stake in shares of TRI Pointe Group by 89.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 12,720 shares of the construction company’s stock worth $168,000 after buying an additional 6,020 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of TRI Pointe Group by 6.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock worth $168,000 after buying an additional 725 shares during the last quarter.

About TRI Pointe Group

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

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