Five Point (FPH) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Five Point Holdings LLC, designs and develops mixed-use, master-planned communities primarily in coastal California. It offer homes, commercial, retail, educational and recreational elements as well as civic areas, parks and open spaces. The company’s communities consist of Great Park Neighborhoods(R) in Irvine, Newhall Ranch(R) near Valencia and The San Francisco Shipyard/Candlestick Point in the City of San Francisco. Five Point Holdings LLC is headquartered in Aliso Viejo, California. “
Several other research analysts have also recently commented on FPH. JMP Securities lowered their price target on shares of Five Point from $19.00 to $12.00 and set a market outperform rating for the company in a report on Monday, April 8th. TheStreet upgraded shares of Five Point from a d+ rating to a c- rating in a report on Wednesday, May 8th. Royal Bank of Canada set a $10.00 price target on shares of Five Point and gave the stock a buy rating in a report on Tuesday, March 19th. Finally, Deutsche Bank lowered their price target on shares of Five Point from $15.00 to $8.00 and set a hold rating for the company in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Five Point has a consensus rating of Hold and an average target price of $9.50.
Five Point (NYSE:FPH) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Five Point had a negative net margin of 12.05% and a negative return on equity of 2.35%. The company had revenue of $7.95 million during the quarter. Equities analysts forecast that Five Point will post -0.11 earnings per share for the current fiscal year.
In other news, major shareholder Anchorage Capital Group, L.L.C sold 3,200,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $7.95, for a total transaction of $25,440,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.58% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Five Point by 2.5% during the 1st quarter. Wells Fargo & Company MN now owns 75,748 shares of the company’s stock worth $546,000 after buying an additional 1,832 shares during the last quarter. Northern Trust Corp lifted its position in shares of Five Point by 17.7% during the 4th quarter. Northern Trust Corp now owns 14,967 shares of the company’s stock worth $104,000 after buying an additional 2,256 shares during the last quarter. BlackRock Inc. lifted its position in shares of Five Point by 5.8% during the 1st quarter. BlackRock Inc. now owns 42,717 shares of the company’s stock worth $308,000 after buying an additional 2,327 shares during the last quarter. Cubic Asset Management LLC lifted its position in shares of Five Point by 7.4% during the 1st quarter. Cubic Asset Management LLC now owns 37,060 shares of the company’s stock worth $267,000 after buying an additional 2,550 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Five Point by 11.1% during the 4th quarter. Geode Capital Management LLC now owns 50,000 shares of the company’s stock worth $347,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.
About Five Point
Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. The company operates through four segments: Newhall, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates properties; and provides development management services.
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