5 Best Value Penny Stocks To Invest In Now

This article presents an overview of the 5 Best Value Penny Stocks To Invest In Now. For a detailed overview of the 15 such stocks read our article, 11 Best Value Penny Stocks To Invest In Now.

5. Five Point Holdings LLC (NYSE:FPH)

Number of Hedge Fund Investors: 14

Real estate company Five Point Holdings LLC (NYSE:FPH) shares have gained about 38% over the past one year. The stock’s PE ratio is still attractive, at 12.70 as of April 12.

Insider Monkey’s database of 933 hedge funds shows that 14 funds had stakes in Five Point Holdings LLC (NYSE:FPH) as of the end of 2023.

Third Avenue Real Estate Value Fund stated the following regarding Five Point Holdings, LLC (NYSE:FPH) in its fourth quarter 2023 investor letter:

“Furthermore, Five Point Holdings, LLC (NYSE:FPH) (a U.S.-based land development company) launched an exchange offer for its Senior Unsecured Notes, whereby it proposed to pay down $100 million of principal, while also extending the maturity date on the remaining amount to 2028 and introducing an optional amortization feature. The offer was accepted by more than 99.0% of the holders, thus allowing the company to move forward with the well-designed transaction that will further reduce debt and grant Five Point more flexibility as it seeks to unlock the value embedded in its incredibly scarce land positions—an amount that seems much more significant than currently implied by the prevailing price for its common stock, in Fund Management’s view.

The Fund participated in several of these developments, primarily by (i) increasing its position in Ingenia Communities alongside the Sun Communities offering and (ii) agreeing to engage in the Five Point exchange offer, which is expected to close in January 2024. The Fund also increased its position in Sun Communities during the period and trimmed back certain holdings for portfolio management purposes.”