The Manufacturers Life Insurance Company Sells 142,166 Shares of Five Point Holdings, LLC $FPH

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Five Point Holdings, LLC by 4.0%, selling 142,166 shares and now owning approximately 2.31% of the company, valued at $18,362,000.
• Wall Street analyst ratings for Five Point changed from a "strong-buy" to a "hold," although there remains one "Buy" rating among analysts, contributing to a consensus rating of "Buy."
• Five Point Holdings reported quarterly earnings of $0.05 per share, with a net margin of 39.43% and revenue of $7.47 million for the quarter ended July 24.

The Manufacturers Life Insurance Company lessened its stake in Five Point Holdings, LLC (NYSE:FPH - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,438,565 shares of the company's stock after selling 142,166 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 2.31% of Five Point worth $18,362,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Five Point by 26.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 947,949 shares of the company's stock worth $3,583,000 after purchasing an additional 198,103 shares during the period. Bank of America Corp DE raised its holdings in shares of Five Point by 0.3% in the 4th 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. Squarepoint Ops LLC raised its holdings in shares of Five Point by 14.9% in the 4th 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. Lazard Asset Management LLC bought a new stake in shares of Five Point in the 4th quarter worth approximately $45,000. Finally, Millennium Management LLC raised its holdings in shares of Five Point by 11.3% in the 4th quarter. Millennium Management LLC now owns 270,955 shares of the company's stock worth $1,024,000 after purchasing an additional 27,531 shares during the period. Institutional investors own 38.09% of the company's stock.

Wall Street Analyst Weigh In

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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Five Point Trading Down 0.7%

Five Point stock opened at $5.64 on Wednesday. Five Point Holdings, LLC has a 1-year low of $3.13 and a 1-year high of $6.71. The firm has a market capitalization of $840.92 million, a price-to-earnings ratio of 5.17 and a beta of 1.55. The firm has a 50 day simple moving average of $5.69 and a 200 day simple moving average of $5.49.

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

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