Five Point (FPH) Sees Large Volume Increase

Five Point Holdings LLC (NYSE:FPH) shares saw unusually-high trading volume on Friday . Approximately 1,015,533 shares traded hands during trading, an increase of 316% from the previous session’s volume of 244,092 shares.The stock last traded at $7.53 and had previously closed at $7.44.

FPH has been the subject of several research reports. Zacks Investment Research cut shares of Five Point from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Citigroup raised their price target on shares of Five Point to $14.00 and gave the stock a “hold” rating in a report on Monday, July 23rd.

The stock has a market cap of $1.08 billion, a P/E ratio of -12.34 and a beta of -0.10.

Five Point (NYSE:FPH) last released its quarterly earnings results on Monday, August 13th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.07). Five Point had a net margin of 129.91% and a negative return on equity of 1.34%. The firm had revenue of $13.09 million during the quarter. As a group, sell-side analysts forecast that Five Point Holdings LLC will post -0.23 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp bought a new stake in Five Point in the 1st quarter valued at $179,000. GSA Capital Partners LLP bought a new stake in Five Point in the 2nd quarter valued at $190,000. Cubist Systematic Strategies LLC bought a new stake in Five Point in the 1st quarter valued at $236,000. BlackRock Inc. increased its holdings in Five Point by 24.5% in the 2nd quarter. BlackRock Inc. now owns 29,365 shares of the company’s stock valued at $331,000 after buying an additional 5,780 shares during the period. Finally, Cubic Asset Management LLC bought a new stake in Five Point in the 3rd quarter valued at $381,000. 37.88% of the stock is currently owned by institutional investors and hedge funds.

About Five Point (NYSE:FPH)

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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