Five Point (NYSE:FPH)‘s stock had its “hold” rating reaffirmed by stock analysts at Citigroup in a report issued on Wednesday, Marketbeat reports. They presently have a $9.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 19.68% from the company’s previous close.
Separately, Zacks Investment Research raised Five Point from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Monday, October 15th.
NYSE:FPH opened at $7.52 on Wednesday. Five Point has a 52 week low of $6.97 and a 52 week high of $15.04.
A number of large investors have recently bought and sold shares of the business. Third Avenue Management LLC increased its holdings in shares of Five Point by 225.1% in the second quarter. Third Avenue Management LLC now owns 8,676,526 shares of the company’s stock worth $97,611,000 after purchasing an additional 6,007,552 shares during the last quarter. Long Pond Capital LP increased its holdings in shares of Five Point by 111.6% in the second quarter. Long Pond Capital LP now owns 3,647,193 shares of the company’s stock worth $41,031,000 after purchasing an additional 1,923,407 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Five Point by 94.9% in the second quarter. Millennium Management LLC now owns 761,685 shares of the company’s stock worth $8,569,000 after purchasing an additional 370,861 shares during the last quarter. Standard Life Aberdeen plc bought a new stake in shares of Five Point in the second quarter worth about $2,701,000. Finally, Real Estate Management Services LLC bought a new stake in shares of Five Point in the second quarter worth about $2,216,000. 37.91% of the stock is currently owned by institutional investors and hedge funds.
About Five Point
Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers. The company was formerly known as Newhall Holding Company, LLC and changed its name to Five Point Holdings, LLC in May 2016.
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