Zacks Investment Research Downgrades Five Point (FPH) to Hold

Zacks Investment Research lowered shares of Five Point (NYSE:FPH) from a buy rating to a hold rating in a research report report published on Monday morning.

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. “

Shares of Five Point (FPH) traded down $0.05 on Monday, hitting $14.04. 138,297 shares of the stock were exchanged, compared to its average volume of 266,150. The stock has a market capitalization of $875.83 and a price-to-earnings ratio of -78.00. Five Point has a twelve month low of $12.00 and a twelve month high of $16.74.

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in shares of Five Point during the second quarter worth approximately $1,120,000. Real Estate Management Services LLC grew its position in shares of Five Point by 37.0% during the third quarter. Real Estate Management Services LLC now owns 1,243,900 shares of the company’s stock worth $16,967,000 after acquiring an additional 336,200 shares during the last quarter. Roumell Asset Management LLC grew its position in shares of Five Point by 44.9% during the third quarter. Roumell Asset Management LLC now owns 152,620 shares of the company’s stock worth $2,082,000 after acquiring an additional 47,291 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of Five Point by 35.5% during the third quarter. Neuberger Berman Group LLC now owns 4,805,626 shares of the company’s stock worth $65,548,000 after acquiring an additional 1,257,802 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Five Point during the second quarter worth approximately $1,957,000. Institutional investors and hedge funds own 33.49% of the company’s stock.

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About Five Point

Five Point Holdings, LLC, formerly Newhall Holding Company, LLC, is the owner and developer of mixed-use, planned communities in coastal California. The Company is primarily engaged in the business of planning and developing its three mixed-use, planned communities. It operates in three segments: Newhall, San Francisco and Great Park.

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