GSA Capital takes new $2.16M stake in Toll Brothers as insiders sell
What's the deal? GSA Capital Partners LLPDealroom has a profile for this one. Try Dealroom → bought a new position in luxury homebuilder Toll BrothersDealroom has a profile for this one. Try Dealroom → during the second quarter, according to a filing with the US Securities and Exchange CommissionDealroom has a profile for this one. Try Dealroom →. The firm purchased 13,114 shares valued at roughly $2,161,000.
What does the company do? Toll Brothers designs and builds luxury residential properties, from custom single-family homes to condominium communities and rental apartment ventures. Its stock opened at $148.09 on Friday, giving it a market cap of $13.84 billion and a P/E ratio of 11.20.
How are the numbers? Toll Brothers reported $2.72 earnings per share for the quarter ended May 19, beating consensus estimates of $2.58. Revenue came in at $2.53 billion, above the $2.42 billion analysts expected, though down 7.6% year-over-year from $3.50 EPS a year earlier.
Who else is buying? Institutional investors own 91.76% of the stock. Recent buyers include Hilton Head Capital PartnersDealroom has a profile for this one. Try Dealroom →, which boosted its holdings 65.5%, along with new positions from Wiser Advisor GroupDealroom has a profile for this one. Try Dealroom →, Pinnacle HoldingsDealroom has a profile for this one. Try Dealroom →, and Turning Point Benefit GroupDealroom has a profile for this one. Try Dealroom →.
What could go wrong? Insiders have been selling. Chairman Douglas C. Yearley Jr. sold 77,957 shares on June 18 at $156.58 each, a $12.2 million transaction that cut his stake 19.53%. The same day, COO Robert Parahus sold 7,500 shares at $149.66, trimming his holding 24.23%. Corporate insiders now own 1.37% of the company.
The signal: Institutional appetite for Toll Brothers remains strong even as revenue softens and top executives take money off the table — a split that leaves the homebuilder's near-term direction in question.
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Image credit: Montgomery County Planning Commission
