FRP (NASDAQ:FRPH) Cut to Hold at StockNews.com

StockNews.com downgraded shares of FRP (NASDAQ:FRPH) from a buy rating to a hold rating in a research note published on Tuesday morning.

FRP Stock Performance

FRPH stock opened at $29.00 on Tuesday. The stock’s 50 day moving average price is $29.53 and its 200 day moving average price is $29.53. The firm has a market cap of $551.87 million, a P/E ratio of 73.42 and a beta of 0.47. FRP has a 1 year low of $26.75 and a 1 year high of $32.50.

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

Insider Transactions at FRP

In related news, COO David H. Devilliers III sold 1,725 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $29.62, for a total transaction of $51,094.50. Following the transaction, the chief operating officer now owns 48,329 shares of the company’s stock, valued at approximately $1,431,504.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other FRP news, President David H. Devilliers, Jr. sold 4,134 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.00, for a total value of $124,020.00. Following the sale, the president now directly owns 62,755 shares of the company’s stock, valued at approximately $1,882,650. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David H. Devilliers III sold 1,725 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $29.62, for a total transaction of $51,094.50. Following the transaction, the chief operating officer now directly owns 48,329 shares of the company’s stock, 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 ninety days. 22.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FRP

Several hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont boosted its holdings in shares of FRP by 100.0% in the 2nd quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 850 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in FRP by 68.2% in the first quarter. BNP Paribas Financial Markets now owns 3,247 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 1,317 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in FRP during the first quarter valued at about $248,000. Sequoia Financial Advisors LLC increased its stake in FRP by 100.0% during the second quarter. Sequoia Financial Advisors LLC now owns 9,218 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 4,609 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in FRP by 116.2% during the second quarter. Hsbc Holdings PLC now owns 9,272 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 4,983 shares during the last quarter. 45.42% of the stock is owned by institutional investors and hedge funds.

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.