FRP (NASDAQ:FRPH) Raised to Buy at StockNews.com

FRP (NASDAQ:FRPH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

FRP Stock Performance

NASDAQ FRPH opened at $30.20 on Friday. FRP has a one year low of $26.75 and a one year high of $32.50. The firm has a market cap of $574.40 million, a PE ratio of 97.42 and a beta of 0.47. The firm’s fifty day moving average is $29.47 and its two-hundred day moving average is $29.57.

FRP (NASDAQ:FRPH) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The firm 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, President David H. Devilliers, Jr. sold 4,134 shares of FRP 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. This trade represents a 0.00 % decrease in their position. The transaction 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 2,280 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $29.53, for a total transaction of $67,328.40. Following the transaction, the president now owns 51,003 shares in the company, valued at approximately $1,506,118.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President David H. Devilliers, Jr. sold 4,134 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the president now directly owns 62,755 shares of the company’s stock, valued at $1,882,650. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,589 shares of company stock worth $342,079 over the last 90 days. 22.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont lifted its holdings in FRP by 100.0% in the second quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 850 shares during the period. BNP Paribas Financial Markets increased its holdings 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 valued at $199,000 after purchasing an additional 1,317 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of FRP in the 1st quarter valued at about $248,000. Sequoia Financial Advisors LLC lifted its stake in shares of FRP by 100.0% in the second 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. Finally, Hsbc Holdings PLC boosted its holdings 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 buying an additional 4,983 shares in the last quarter. 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.