Five Point (NYSE:FPH) Sees Strong Trading Volume After Better-Than-Expected Earnings

by · The Markets Daily

Five Point Holdings, LLC (NYSE:FPHGet Free Report) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 257,040 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 177,210 shares.The stock last traded at $4.9450 and had previously closed at $5.06.

The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Five Point had a net margin of 64.50% and a return on equity of 3.14%. The business had revenue of $13.58 million during the quarter, compared to analysts’ expectations of $8.61 million.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Five Point from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

View Our Latest Stock Report on FPH

Insider Activity

In other news, insider Greg Mcwilliams sold 111,037 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $5.23, for a total value of $580,723.51. Following the completion of the sale, the insider owned 588,735 shares of the company’s stock, valued at approximately $3,079,084.05. This represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.49% of the company’s stock.

Institutional Investors Weigh In On Five Point

A number of institutional investors have recently made changes to their positions in FPH. Royal Bank of Canada boosted its stake in shares of Five Point by 66.3% in the 1st quarter. Royal Bank of Canada now owns 89,847 shares of the company’s stock valued at $481,000 after purchasing an additional 35,818 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Five Point by 14.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 60,523 shares of the company’s stock valued at $323,000 after purchasing an additional 7,544 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Five Point by 39.3% in the 2nd quarter. American Century Companies Inc. now owns 129,904 shares of the company’s stock valued at $714,000 after purchasing an additional 36,659 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Five Point in the 2nd quarter valued at $128,000. Finally, Jump Financial LLC boosted its stake in shares of Five Point by 61.3% in the 2nd quarter. Jump Financial LLC now owns 44,200 shares of the company’s stock valued at $243,000 after purchasing an additional 16,800 shares in the last quarter. Hedge funds and other institutional investors own 38.09% of the company’s stock.

Five Point Stock Performance

The company has a market cap of $747.18 million, a PE ratio of 5.28 and a beta of 1.38. The stock’s 50 day moving average price is $5.17 and its 200-day moving average price is $5.57.

About Five Point

(Get Free Report)

Five Point Holdings, L.P. (NYSE:FPH) is a California‐based master planned community developer specializing in residential, commercial and mixed‐use projects. Headquartered in Walnut Creek, the company focuses on acquiring and entitling raw land, designing infrastructure and delivering fully integrated neighborhoods that include single‐family homes, multifamily housing, retail centers, office space and community amenities.

Since its formation in 2014, Five Point has concentrated its land development efforts in the San Francisco Bay Area and the Los Angeles Basin, targeting key growth corridors with large‐scale, long-term projects.

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