Five Point (NYSE:FPH) Shares Gap Up Following Strong Earnings

Five Point Holdings, LLC (NYSE:FPH)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $5.01, but opened at $5.40. Five Point shares last traded at $5.3030, with a volume of 24,770 shares traded.

The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.19. The company had revenue of $13.90 million for the quarter, compared to analyst estimates of $8.61 million. Five Point had a return on equity of 1.99% and a net margin of 41.16%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Five Point from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Five Point

Hedge funds and other institutional investors have recently modified their holdings of the stock. JBF Capital Inc. purchased a new stake in shares of Five Point during the 4th quarter worth approximately $56,000. State of Wyoming purchased a new position in Five Point in the 2nd quarter valued at approximately $58,000. Lazard Asset Management LLC purchased a new position in Five Point in the 1st quarter valued at approximately $79,000. Occudo Quantitative Strategies LP increased its stake in Five Point by 17.7% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 16,844 shares of the company’s stock valued at $103,000 after purchasing an additional 2,537 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Five Point during the second quarter worth $128,000. 38.09% of the stock is currently owned by institutional investors and hedge funds.

Five Point Stock Up 5.4%

The firm has a fifty day moving average of $5.09 and a 200-day moving average of $5.19. The stock has a market capitalization of $784.08 million, a price-to-earnings ratio of 8.70 and a beta of 1.32.

About Five Point

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.