Zacks Investment Research upgraded shares of Five Point (NYSE:FPH) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. The firm currently has $9.00 price objective on the stock.
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. “
Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded WillScot from a d- rating to a c- rating in a research note on Wednesday, May 8th. Deutsche Bank cut CROWN CASTLE IN/SH SH from a buy rating to a hold rating and set a $121.00 price target for the company. in a research note on Monday, March 18th. They noted that the move was a valuation call. JMP Securities upped their price target on Stifel Financial from $61.00 to $65.00 and gave the stock a market outperform rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada set a €215.00 ($250.00) price target on Munchener Ruckvers and gave the stock a buy rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Five Point presently has a consensus rating of Buy and an average target price of $9.60.
Five Point stock opened at $7.82 on Wednesday. Five Point has a 12 month low of $6.64 and a 12 month high of $12.39. The business’s 50 day moving average is $7.57. The stock has a market capitalization of $1.16 billion, a PE ratio of -21.72 and a beta of 0.99.
In other Five Point news, major shareholder Anchorage Capital Group, L.L.C sold 3,200,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $7.95, for a total value of $25,440,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.58% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FPH. O Keefe Stevens Advisory Inc. increased its holdings in Five Point by 5.7% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 711,690 shares of the company’s stock worth $5,352,000 after purchasing an additional 38,670 shares in the last quarter. TD Asset Management Inc. bought a new position in shares of Five Point in the first quarter valued at approximately $118,000. Cubic Asset Management LLC grew its holdings in shares of Five Point by 7.4% in the first quarter. Cubic Asset Management LLC now owns 37,060 shares of the company’s stock valued at $267,000 after acquiring an additional 2,550 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Five Point by 50.0% in the first quarter. First Manhattan Co. now owns 15,000 shares of the company’s stock valued at $108,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Five Point by 11.1% in the fourth 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. Hedge funds and other institutional investors own 33.57% of the company’s stock.
Five Point Company Profile
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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