Five Point (NYSE:FPH) Shares Gap Up After Earnings Beat

Five Point Holdings, LLC (NYSE:FPH)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. 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 changing hands.

The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.19. Five Point had a net margin of 45.35% and a return on equity of 2.30%. The company had revenue of $13.90 million during the quarter, compared to the consensus estimate of $8.61 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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 has a consensus rating of “Hold”.

Institutional Trading of Five Point

A number of hedge funds and other institutional investors have recently modified their holdings of FPH. Dimensional Fund Advisors LP increased its stake in shares of Five Point by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,414,018 shares of the company’s stock worth $8,667,000 after acquiring an additional 48,181 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in Five Point by 10.3% during the first quarter. ACR Alpine Capital Research LLC now owns 1,229,255 shares of the company’s stock worth $5,950,000 after acquiring an additional 114,498 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Five Point by 10.3% during the second quarter. Raymond James Financial Inc. now owns 418,380 shares of the company’s stock worth $2,301,000 after acquiring an additional 39,088 shares in the last quarter. Saber Capital Managment LLC bought a new stake in Five Point during the fourth quarter worth about $2,247,000. Finally, Renaissance Technologies LLC grew its holdings in Five Point by 5.3% in the first quarter. Renaissance Technologies LLC now owns 270,162 shares of the company’s stock worth $1,308,000 after purchasing an additional 13,662 shares during the period. 38.09% of the stock is owned by hedge funds and other institutional investors.

Five Point Stock Up 5.0%

The stock’s fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $5.19. The firm has a market cap of $781.26 million, a PE ratio of 7.41 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.