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

FRP (NASDAQ:FRPH) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

FRP Price Performance

Shares of FRP stock traded up $0.05 during trading on Thursday, hitting $29.51. The stock had a trading volume of 13,239 shares, compared to its average volume of 22,143. The business has a fifty day moving average of $29.31 and a two-hundred day moving average of $29.58. FRP has a fifty-two week low of $26.73 and a fifty-two week high of $32.50. The firm has a market cap of $561.28 million, a P/E ratio of 95.19 and a beta of 0.47.

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

Insiders Place Their Bets

In other news, COO David H. Devilliers III sold 1,725 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $29.30, for a total transaction of $50,542.50. Following the completion of the sale, the chief operating officer now owns 44,879 shares in the company, valued at approximately $1,314,954.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO David H. Devilliers III sold 1,725 shares of FRP stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $29.30, for a total value of $50,542.50. Following the transaction, the chief operating officer now owns 44,879 shares of the company’s stock, valued at approximately $1,314,954.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President David H. Devilliers, Jr. sold 2,280 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $29.53, for a total transaction of $67,328.40. Following the sale, the president now directly owns 51,003 shares of the company’s stock, valued at $1,506,118.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,589 shares of company stock worth $342,079. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On FRP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its position in shares of FRP by 100.0% in the second quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 850 shares in the last quarter. SG Americas Securities LLC purchased a new stake in FRP in the 3rd quarter worth approximately $155,000. BNP Paribas Financial Markets lifted its position in 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 acquired a new stake in shares of FRP during the 1st quarter valued at $248,000. Finally, American Century Companies Inc. purchased a new position in shares of FRP during the 2nd quarter valued at $250,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

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.