Five Point (FPH) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Five Point (NYSE:FPH) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $16.00 price target 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. “

Five Point (NYSE:FPH) traded down $0.21 during trading hours on Wednesday, hitting $13.81. 91,415 shares of the stock were exchanged, compared to its average volume of 136,396. Five Point has a 12 month low of $12.00 and a 12 month high of $16.74. The company has a market capitalization of $851.00 and a price-to-earnings ratio of -76.72.

Several large investors have recently added to or reduced their stakes in FPH. SG Americas Securities LLC bought a new position in shares of Five Point in the second quarter valued at approximately $108,000. Neuberger Berman Group LLC acquired a new stake in shares of Five Point in the second quarter worth $52,366,000. OZ Management LP acquired a new stake in shares of Five Point in the second quarter worth $72,611,000. JPMorgan Chase & Co. acquired a new stake in shares of Five Point in the second quarter worth $144,000. Finally, CI Investments Inc. acquired a new stake in shares of Five Point in the second quarter worth $12,546,000. 33.49% of the stock is currently owned by institutional investors.

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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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