StockNews.com Downgrades FRP (NASDAQ:FRPH) to Hold

FRP (NASDAQ:FRPH) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

FRP Price Performance

FRPH stock opened at $29.45 on Friday. FRP has a 1-year low of $26.59 and a 1-year high of $32.50. The business has a 50 day simple moving average of $28.99 and a two-hundred day simple moving average of $29.75. The company has a market capitalization of $560.14 million, a price-to-earnings ratio of 95.00 and a beta of 0.47.

Insider Activity at FRP

In other FRP news, EVP John D. Milton, Jr. sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $30.40, for a total value of $45,600.00. Following the sale, the executive vice president now owns 960 shares in the company, valued at approximately $29,184. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FRP

Several institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its position in shares of FRP by 100.0% during the 2nd quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 850 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of FRP by 68.2% in the 1st quarter. BNP Paribas Financial Markets now owns 3,247 shares of the financial services provider’s stock worth $199,000 after buying an additional 1,317 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of FRP in the 1st quarter worth $248,000. American Century Companies Inc. bought a new stake in shares of FRP in the 2nd quarter worth about $250,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of FRP by 100.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,218 shares of the financial services provider’s stock valued at $263,000 after buying an additional 4,609 shares in the last quarter. Hedge funds and other institutional investors own 45.42% of the company’s stock.

FRP Company Profile

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.