Zacks Investment Research Downgrades Five Point (FPH) to Hold

Five Point (NYSE:FPH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

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Separately, Citigroup reissued a “hold” rating and issued a $9.00 price target on shares of Five Point in a research note on Wednesday, November 14th.

Five Point stock traded down $0.27 during mid-day trading on Thursday, hitting $7.44. 181,842 shares of the company’s stock were exchanged, compared to its average volume of 212,204. The company has a market capitalization of $1.13 billion, a PE ratio of -12.20 and a beta of 0.99. Five Point has a fifty-two week low of $6.64 and a fifty-two week high of $14.99.

Five Point (NYSE:FPH) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). Five Point had a negative return on equity of 1.62% and a net margin of 118.34%. The firm had revenue of $7.95 million for the quarter. Equities research analysts predict that Five Point will post -0.21 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Five Point by 11.1% in the 4th quarter. Geode Capital Management LLC now owns 50,000 shares of the company’s stock valued at $347,000 after acquiring an additional 5,000 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Five Point by 17.7% in the 4th quarter. Northern Trust Corp now owns 14,967 shares of the company’s stock valued at $104,000 after acquiring an additional 2,256 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Five Point by 118.6% in the 4th quarter. Bank of New York Mellon Corp now owns 193,183 shares of the company’s stock valued at $1,341,000 after acquiring an additional 104,823 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Five Point in the 4th quarter valued at about $111,000. Finally, First Manhattan Co. bought a new position in shares of Five Point in the 4th quarter valued at about $69,000. Institutional investors own 35.32% 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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