Five Point Holdings LLC (NYSE:FPH) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,940,000 shares, a drop of 8.9% from the September 30th total of 2,130,000 shares. Based on an average daily trading volume, of 182,200 shares, the days-to-cover ratio is currently 10.6 days. Currently, 3.4% of the shares of the stock are sold short.
A number of institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in Five Point by 1,329.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 13,195 shares of the company’s stock worth $99,000 after purchasing an additional 12,272 shares in the last quarter. Delta Investment Management LLC purchased a new stake in Five Point during the 3rd quarter worth about $93,000. Serengeti Asset Management LP increased its position in Five Point by 254.9% during the 3rd quarter. Serengeti Asset Management LP now owns 150,000 shares of the company’s stock worth $1,125,000 after purchasing an additional 107,732 shares in the last quarter. California Public Employees Retirement System increased its position in Five Point by 68.6% during the 3rd quarter. California Public Employees Retirement System now owns 30,139 shares of the company’s stock worth $226,000 after purchasing an additional 12,268 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. increased its position in Five Point by 1.7% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 723,975 shares of the company’s stock worth $5,430,000 after purchasing an additional 12,285 shares in the last quarter. Hedge funds and other institutional investors own 33.86% of the company’s stock.
A number of brokerages have recently weighed in on FPH. Evercore ISI restated a “buy” rating on shares of Five Point in a research report on Tuesday, August 13th. Zacks Investment Research cut Five Point from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, TheStreet cut Five Point from a “c-” rating to a “d+” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Five Point has an average rating of “Buy” and an average price target of $9.44.
Five Point (NYSE:FPH) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). The company had revenue of $12.01 million for the quarter. Five Point had a negative return on equity of 2.68% and a negative net margin of 25.69%. On average, equities analysts predict that Five Point will post -0.04 EPS for the current year.
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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