FRP Holdings, Inc. (NASDAQ:FRPH) Sees Significant Decrease in Short Interest

FRP Holdings, Inc. (NASDAQ:FRPH) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 109,900 shares, a decline of 8.4% from the August 15th total of 120,000 shares. Based on an average daily trading volume, of 26,400 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of FRP from a “hold” rating to a “buy” rating in a research report on Sunday, August 25th.

FRP Price Performance

FRPH stock traded up $0.02 during midday trading on Wednesday, reaching $29.59. 28,126 shares of the company’s stock traded hands, compared to its average volume of 22,081. The company has a market capitalization of $562.80 million, a P/E ratio of 95.45 and a beta of 0.47. FRP has a fifty-two week low of $26.59 and a fifty-two week high of $32.50. The business has a 50-day moving average price of $29.28 and a two-hundred day moving average price of $29.64.

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

Insider Transactions at FRP

In other news, COO David H. Devilliers III sold 1,725 shares of FRP 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 completion of the sale, the chief operating officer now directly owns 48,329 shares in the company, valued at $1,431,504.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO David H. Devilliers III sold 1,725 shares of FRP 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 completion of the sale, the chief operating officer now directly owns 48,329 shares in the company, valued at $1,431,504.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $30.00, for a total transaction of $124,020.00. Following the completion of the sale, the president now directly owns 62,755 shares in the company, valued at $1,882,650. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont lifted its position in shares of FRP by 100.0% during 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. BNP Paribas Financial Markets lifted its position in shares of FRP by 68.2% during the first 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 in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of FRP during the first quarter worth $248,000. American Century Companies Inc. acquired a new position in shares of FRP during the second quarter worth $250,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of 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 purchasing an additional 4,609 shares in the last quarter. 45.42% of the stock is owned by institutional investors and hedge funds.

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.