Five Point (NYSE:FPH) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up pre-market Monday, opening at $5.27 vs. the prior close of $4.96, with about 2,014 shares changing hands.
• Weiss Ratings downgraded Five Point from "buy (b-)" to "hold (c+)" on Feb. 12, and MarketBeat's consensus rating for the stock is currently Hold.
• Insider Greg Mcwilliams sold 111,037 shares at an average price of about $5.23 on Mar. 9, reducing his position by 15.87%; insiders collectively own 21.49% of the company.

Five Point Holdings, LLC (NYSE:FPH - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $4.96, but opened at $5.27. Five Point shares last traded at $5.27, with a volume of 2,014 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Five Point from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Five Point Stock Performance

The company has a market capitalization of $773.99 million, a price-to-earnings ratio of 5.47 and a beta of 1.38. The firm's 50 day simple moving average is $5.19 and its 200-day simple moving average is $5.59.

Five Point (NYSE:FPH - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter. The company had revenue of $75.90 million for the quarter. Five Point had a net margin of 64.50% and a return on equity of 3.14%.

Insider Transactions at Five Point

In other Five Point news, insider Greg Mcwilliams sold 111,037 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $5.23, for a total value of $580,723.51. Following the transaction, the insider directly owned 588,735 shares of the company's stock, valued at approximately $3,079,084.05. The trade was a 15.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.49% of the company's stock.

Hedge Funds Weigh In On Five Point

Several institutional investors have recently bought and sold shares of FPH. Flax Pond Capital LLC purchased a new stake in shares of Five Point during the 4th quarter worth $699,000. Oxford Asset Management LLP purchased a new stake in shares of Five Point in the 4th quarter worth about $139,000. Millennium Management LLC purchased a new position in Five Point in the 4th quarter valued at about $748,000. Squarepoint Ops LLC purchased a new position in Five Point in the 4th quarter valued at about $138,000. Finally, Wittenberg Investment Management Inc. purchased a new position in Five Point in the 4th quarter valued at about $416,000. 38.09% of the stock is owned by institutional investors and hedge funds.

Five Point Company Profile

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.

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