FRP (NASDAQ:FRPH) Downgraded by StockNews.com to “Hold”

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

FRP Price Performance

FRPH stock traded up $0.28 during trading on Thursday, hitting $30.85. 11,747 shares of the stock traded hands, compared to its average volume of 21,730. The stock has a market cap of $587.08 million, a price-to-earnings ratio of 77.39 and a beta of 0.47. The firm’s 50 day moving average is $29.56 and its two-hundred day moving average is $29.54. FRP has a 1 year low of $26.75 and a 1 year high of $32.50.

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

Insider Activity

In other news, COO David H. Devilliers III sold 1,725 shares of FRP stock in a transaction that occurred on Friday, August 30th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FRP news, President David H. Devilliers, Jr. sold 4,134 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.00, for a total value of $124,020.00. Following the completion of the sale, the president now directly owns 62,755 shares in the company, valued at approximately $1,882,650. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David H. Devilliers III sold 1,725 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $29.62, for a total value of $51,094.50. Following the transaction, the chief operating officer now owns 48,329 shares in the company, valued at approximately $1,431,504.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,589 shares of company stock worth $342,079 over the last 90 days. Corporate insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On FRP

Several large investors have recently modified their holdings of FRPH. Hyman Charles D increased its holdings in FRP by 100.0% during 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 buying an additional 968,822 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of FRP by 101.9% during the 2nd 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 during the last quarter. Vanguard Group Inc. boosted its position in FRP by 2.1% during the first quarter. Vanguard Group Inc. now owns 325,563 shares of the financial services provider’s stock valued at $19,990,000 after purchasing an additional 6,741 shares in the last quarter. LB Partners LLC raised its holdings in FRP by 100.0% in the second quarter. LB Partners LLC now owns 125,802 shares of the financial services provider’s stock worth $3,588,000 after purchasing an additional 62,901 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position 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 valued at $3,158,000 after buying an additional 55,067 shares during the last quarter. 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.