Tri Pointe Homes Inc.’s filing revealed that its President and COO MITCHELL THOMAS J. unloaded Company’s shares for reported $1.81 million on Mar 13 ’24. In the deal valued at $35.22 per share,51,533 shares were sold. As a result of this transaction, MITCHELL THOMAS J. now holds 785,543 shares worth roughly $28.91 million.
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Then, BURROWS LAWRENCE B. sold 7,677 shares, generating $241,672 in total proceeds. Upon selling the shares at $31.48, the Director now owns 86,891 shares.
Before that, KEELER GLENN J. sold 21,413 shares. Tri Pointe Homes Inc. shares valued at $706,843 were divested by the CFO and CAO at a price of $33.01 per share. As a result of the transaction, KEELER GLENN J. now holds 102,194 shares, worth roughly $3.76 million.
RBC Capital Mkts upgraded its Tri Pointe Homes Inc. [TPH] rating to an Outperform from a a Sector perform in a research note published recently. A number of analysts have revised their coverage, including Wedbush’s analysts, who decreased its forecast for the stock in mid December from “an Outperform” to “a Neutral”. Oppenheimer also remained covering TPH and has increased its forecast on September 07, 2023 with a “an Outperform” recommendation from previously “Perform” rating. Wolfe Research revised its rating on August 07, 2023. It rated TPH as “an Outperform” which previously was an “a Peer perform”.
Price Performance Review of TPH
On Tuesday, Tri Pointe Homes Inc. [NYSE:TPH] saw its stock jump 0.57% to $36.80. Over the last five days, the stock has gained 4.90%. Tri Pointe Homes Inc. shares have risen nearly 3.95% since the year began. Nevertheless, the stocks have risen 48.87% over the past one year. While a 52-week high of $37.12 was reached on 03/25/24, a 52-week low of $24.18 was recorded on 03/14/24. SMA at 50 days reached $34.99, while 200 days put it at $31.54. A total of 0.7 million shares were traded, compared to the trading of 0.64 million shares in the previous session.
Levels Of Support And Resistance For TPH Stock
The 24-hour chart illustrates a support level at 36.64, which if violated will result in even more drops to 36.48. On the upside, there is a resistance level at 36.96. A further resistance level may holdings at 37.12. The Relative Strength Index (RSI) on the 14-day chart is 62.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.26%. Stochastics %K at 89.65% indicates the stock is a selling.
How much short interest is there in Tri Pointe Homes Inc.?
A steep rise in short interest was recorded in Tri Pointe Homes Inc. stocks on Feb 29, 2024, growing by 0.92 million shares to a total of 3.12 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 2.2 million shares. There was a rise of 29.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.76.
The most recent change occurred on June 01, 2023 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $42 price target.
