Short Interest in FRP Holdings, Inc. (NASDAQ:FRPH) Drops By 6.7%

FRP Holdings, Inc. (NASDAQ:FRPH) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 88,200 shares, a drop of 6.7% from the November 30th total of 94,500 shares. Based on an average daily trading volume, of 23,400 shares, the days-to-cover ratio is currently 3.8 days.

Insider Activity at FRP

In other news, President David H. Devilliers, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $31.50, for a total transaction of $78,750.00. Following the completion of the transaction, the president now directly owns 57,268 shares in the company, valued at $1,803,942. This trade represents a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin E. Stein, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $31.00, for a total value of $155,000.00. Following the completion of the sale, the director now owns 144,428 shares in the company, valued at $4,477,268. The trade was a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,841 shares of company stock worth $339,972 in the last quarter. 22.80% of the stock is owned by insiders.

Institutional Investors Weigh In On FRP

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in shares of FRP by 119.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,945 shares of the financial services provider’s stock worth $1,596,000 after buying an additional 30,484 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in FRP by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,415 shares of the financial services provider’s stock worth $3,267,000 after acquiring an additional 1,845 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings 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 worth $2,115,000 after purchasing an additional 37,444 shares during the period. Renaissance Technologies LLC increased its stake in FRP by 138.9% in the second quarter. Renaissance Technologies LLC now owns 44,200 shares of the financial services provider’s stock valued at $1,261,000 after purchasing an additional 25,700 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of FRP by 0.4% during the third quarter. State Street Corp now owns 283,930 shares of the financial services provider’s stock valued at $8,478,000 after purchasing an additional 1,005 shares during the period. Institutional investors and hedge funds own 45.42% of the company’s stock.

FRP Trading Up 1.2 %

Shares of FRP stock opened at $30.63 on Thursday. The business has a 50-day moving average price of $30.87 and a two-hundred day moving average price of $29.80. FRP has a 1-year low of $26.99 and a 1-year high of $33.00. The company has a market cap of $582.89 million, a P/E ratio of 76.58 and a beta of 0.50.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of FRP from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

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.