Glendon Capital Management LP Sells 50,000 Shares of Five Point Holdings, LLC $FPH

Key Points

• Glendon Capital Management LP has reduced its stake in Five Point Holdings by 2.9% to approximately 1,658,375 shares after selling 50,000 shares in the latest quarter, representing 0.5% of its overall portfolio.
• Five Point Holdings reported earnings of $0.05 per share and a revenue of $7.47 million for the quarter, while analysts have recently downgraded the stock from a "strong-buy" to a "hold" rating.
• The company's shares are currently priced at $5.5050, with a market capitalization of $820.77 million and a 12-month low of $3.03 and high of $6.71.

Glendon Capital Management LP lowered its position in Five Point Holdings, LLC (NYSE:FPH - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,658,375 shares of the company's stock after selling 50,000 shares during the quarter. Five Point comprises approximately 0.5% of Glendon Capital Management LP's portfolio, making the stock its 14th largest holding. Glendon Capital Management LP owned approximately 1.12% of Five Point worth $8,856,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in shares of Five Point by 21.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,364 shares of the company's stock worth $66,000 after purchasing an additional 3,052 shares during the period. XTX Topco Ltd increased its holdings in shares of Five Point by 24.5% in the fourth quarter. XTX Topco Ltd now owns 21,079 shares of the company's stock worth $80,000 after purchasing an additional 4,145 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Five Point by 14.9% in the fourth quarter. Squarepoint Ops LLC now owns 42,003 shares of the company's stock worth $159,000 after purchasing an additional 5,447 shares during the period. Bank of America Corp DE increased its holdings in shares of Five Point by 0.3% in the fourth quarter. Bank of America Corp DE now owns 2,848,981 shares of the company's stock worth $10,769,000 after purchasing an additional 7,666 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Five Point in the fourth quarter worth $45,000. Institutional investors own 38.09% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Five Point from a "strong-buy" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy".

Five Point Trading Down 2.5%

Shares of NYSE:FPH traded down $0.14 on Monday, reaching $5.56. 110,478 shares of the company traded hands, compared to its average volume of 260,235. The business's 50-day simple moving average is $5.68 and its 200 day simple moving average is $5.50. Five Point Holdings, LLC has a 52 week low of $3.09 and a 52 week high of $6.71. The stock has a market capitalization of $828.97 million, a P/E ratio of 5.10 and a beta of 1.53.

Five Point (NYSE:FPH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter. Five Point had a return on equity of 3.61% and a net margin of 39.43%.The firm had revenue of $7.47 million for the quarter.

About Five Point

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, owns and develops mixed-use and planned communities in Orange County, Los Angeles County, and San Francisco County. The company operates in four segments: Valencia, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates and owns a commercial office, research and development, medical campus, and other properties; and provides development and property management services.