Five Point (FPH) Trading Down 5.6%

Five Point Holdings (NYSE:FPH) shares fell 5.6% on Tuesday . The stock traded as low as $12.05 and last traded at $12.36. 784,333 shares were traded during trading, an increase of 272% from the average session volume of 210,651 shares. The stock had previously closed at $13.09.

Several research firms have weighed in on FPH. Royal Bank of Canada restated a “buy” rating and set a $20.00 price objective on shares of Five Point in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of Five Point from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a report on Wednesday, April 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.25.

Five Point (NYSE:FPH) last announced its earnings results on Friday, March 30th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $22.26 million during the quarter, compared to analysts’ expectations of $9.10 million. Five Point had a net margin of 52.52% and a negative return on equity of 1.84%. analysts expect that Five Point Holdings will post -0.2 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of Five Point in the fourth quarter valued at about $164,000. Northern Trust Corp purchased a new stake in shares of Five Point in the first quarter valued at about $179,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Five Point in the first quarter valued at about $236,000. BlackRock Inc. bought a new position in Five Point during the fourth quarter valued at about $291,000. Finally, Bamco Inc. NY bought a new position in Five Point during the first quarter valued at about $329,000. Institutional investors own 34.22% 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. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers. The company was formerly known as Newhall Holding Company, LLC and changed its name to Five Point Holdings, LLC in May 2016.

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