Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tri Pointe Homes Inc. shares valued at $1,814,992 were sold by MITCHELL THOMAS J. on Mar 13 ’24. At $35.22 per share, MITCHELL THOMAS J. sold 51,533 shares. The insider’s holdings dropped to 785,543 shares worth approximately $29.02 million following the completion of this transaction.
Also, BURROWS LAWRENCE B. sold 7,677 shares, netting a total of over 241,672 in proceeds. Following the sale of shares at $31.48 each, the insider now holds 86,891 shares.
Before that, KEELER GLENN J. had sold 21,413 shares from its account. In a trade valued at $706,843, the CFO and CAO traded Tri Pointe Homes Inc. shares for $33.01 each. Upon closing the transaction, the insider’s holdings decreased to 21,413 shares, worth approximately $3.78 million.
As published in a research note from RBC Capital Mkts on March 13, 2024, Tri Pointe Homes Inc. [TPH] has been rated up from a Sector perform to an Outperform and the price target has been revised to $38. Analysts at Wedbush downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of September 07, 2023, Oppenheimer has increased its “Perform” rating to a “an Outperform” for TPH. Earlier on August 07, 2023, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for TPH stock which previously was a “a Peer perform”.
Analyzing TPH Stock Performance
During the last five days, there has been a drop of approximately -2.61%. Over the course of the year, Tri Pointe Homes Inc. shares have jumped approximately 4.35%. Shares of the company reached a 52-week high of $39.08 on 03/28/24 and a 52-week low of $33.24 on 03/14/24. A 50-day SMA is recorded $35.34, while a 200-day SMA reached $31.70. Nevertheless, trading volume fell to 0.77 million shares from 0.68 million shares the previous day.
Support And Resistance Levels for Tri Pointe Homes Inc. (TPH)
According to the 24-hour chart, there is a support level at 36.36, which, if violated, would cause prices to drop to 35.77. In the upper region, resistance lies at 37.81. The next price resistance is at 38.67. RSI (Relative Strength Index) is 55.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.51, which suggests the price will decrease in the coming days. Percent R is at 37.41%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Tri Pointe Homes Inc. subject to short interest?
Stocks of Tri Pointe Homes Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.08 million shares to 4.38 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.3 million shares. A jump of 47.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.5 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.5.
