Zacks Investment Research Lowers Five Point (FPH) to Hold

Zacks Investment Research cut shares of Five Point (NYSE:FPH) from a buy rating to a hold rating in a research report sent to investors on Tuesday 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. “

Five Point (NYSE FPH) traded up $0.02 during mid-day trading on Tuesday, hitting $14.02. 465,900 shares of the company were exchanged, compared to its average volume of 133,197. Five Point has a 12-month low of $12.00 and a 12-month high of $16.74.

Several hedge funds have recently added to or reduced their stakes in the stock. OZ Management LP purchased a new stake in shares of Five Point during the second quarter worth approximately $72,611,000. Neuberger Berman Group LLC increased its stake 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 buying an additional 1,257,802 shares during the period. FMR LLC purchased a new stake in shares of Five Point during the second quarter worth approximately $67,099,000. Marathon Asset Management LP purchased a new stake in shares of Five Point during the second quarter worth approximately $63,547,000. Finally, Third Avenue Management LLC purchased a new stake in shares of Five Point during the second quarter worth approximately $36,408,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Five Point (NYSE:FPH)

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