FRP (NASDAQ:FRPH) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of FRP (NASDAQ:FRPH) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

FRP Stock Up 0.9 %

FRPH traded up $0.28 during trading on Thursday, hitting $30.85. The company had a trading volume of 11,747 shares, compared to its average volume of 21,730. The company has a market capitalization of $587.08 million, a PE ratio of 77.39 and a beta of 0.47. FRP has a one year low of $26.75 and a one year high of $32.50. The firm’s 50-day moving average price is $29.56 and its 200 day moving average price is $29.54.

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

Insider Transactions at FRP

In other 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 stock was sold at an average price of $29.62, for a total transaction of $51,094.50. Following the sale, the chief operating officer now owns 48,329 shares in the company, valued at $1,431,504.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 shares were sold at an average price of $30.00, for a total value of $124,020.00. Following the transaction, the president now directly owns 62,755 shares in the company, valued at $1,882,650. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David H. Devilliers III sold 1,725 shares of FRP stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $29.62, for a total transaction of $51,094.50. Following the sale, the chief operating officer now directly owns 48,329 shares of the company’s stock, valued at $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. 22.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FRP

Several institutional investors and hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont increased its stake in FRP by 100.0% during the 2nd quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 850 shares during the period. BNP Paribas Financial Markets lifted its position 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 purchasing an additional 1,317 shares during the period. GSA Capital Partners LLP lifted its stake in FRP by 7.1% in the third quarter. GSA Capital Partners LLP now owns 20,065 shares of the financial services provider’s stock valued at $599,000 after buying an additional 1,329 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of FRP during the 1st quarter worth about $248,000. Finally, Sequoia Financial Advisors LLC grew its position in FRP by 100.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,218 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 4,609 shares during the period. 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.