FRP (NASDAQ:FRPH) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of FRP (NASDAQ:FRPH) from a buy rating to a hold rating in a research report report published on Thursday.

FRP Stock Up 2.1 %

Shares of FRPH stock opened at $30.13 on Thursday. The firm has a 50 day moving average of $29.30 and a two-hundred day moving average of $29.58. The stock has a market capitalization of $573.07 million, a PE ratio of 97.19 and a beta of 0.47. FRP has a 52 week low of $26.75 and a 52 week high of $32.50.

FRP (NASDAQ:FRPH) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.11 EPS for the quarter. FRP had a return on equity of 1.67% and a net margin of 18.12%. The firm had revenue of $10.48 million during the quarter.

Insider Activity at FRP

In other FRP news, President David H. Devilliers, Jr. sold 2,280 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $29.53, for a total transaction of $67,328.40. Following the completion of the transaction, the president now owns 51,003 shares in the company, valued at $1,506,118.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other FRP news, President David H. Devilliers, Jr. sold 2,280 shares of FRP stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $29.53, for a total transaction of $67,328.40. Following the completion of the sale, the president now directly owns 51,003 shares of the company’s stock, valued at $1,506,118.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David H. Devilliers III sold 1,725 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $29.62, for a total value of $51,094.50. Following the completion of the transaction, the chief operating officer now owns 48,329 shares in the company, valued at approximately $1,431,504.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,589 shares of company stock valued at $342,079 over the last 90 days. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of FRP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of FRP by 119.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,945 shares of the financial services provider’s stock valued at $1,596,000 after buying an additional 30,484 shares in the last quarter. Hyman Charles D lifted its position in FRP by 100.0% in the second quarter. Hyman Charles D now owns 1,937,268 shares of the financial services provider’s stock valued at $55,251,000 after acquiring an additional 968,822 shares during the last quarter. Guardian Wealth Management Inc. boosted its stake in FRP by 102.0% in the second quarter. Guardian Wealth Management Inc. now owns 74,145 shares of the financial services provider’s stock valued at $2,115,000 after acquiring an additional 37,444 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of FRP by 98.9% during the second quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock worth $3,158,000 after purchasing an additional 55,067 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of FRP by 101.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after purchasing an additional 553,265 shares in the last quarter. Institutional investors and hedge funds own 45.42% of the company’s stock.

About FRP

FRP Holdings, Inc engages in the real estate business in the United States. It operates through four segments: Industrial and Commercial, Mining Royalty Lands, Development, and Multifamily. The Industrial and Commercial segment owns, leases, and manages commercial properties. The Mining Royalty Lands segment leases and manages mining royalties owned by the company primarily in Florida, Georgia, and Virginia.