FRP (NASDAQ:FRPH) Downgraded by StockNews.com

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

FRP Price Performance

Shares of FRPH stock traded up $0.05 on Thursday, hitting $29.51. 13,239 shares of the stock traded hands, compared to its average volume of 22,143. The company’s fifty day moving average is $29.31 and its 200 day moving average is $29.58. FRP has a 1-year low of $26.73 and a 1-year high of $32.50. The company has a market capitalization of $561.28 million, a PE ratio of 95.19 and a beta of 0.47.

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

Insiders Place Their Bets

In other news, COO David H. Devilliers III sold 1,725 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.46, for a total transaction of $49,093.50. Following the completion of the transaction, the chief operating officer now directly owns 46,604 shares of the company’s stock, valued at $1,326,349.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President David H. Devilliers, Jr. sold 4,134 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.00, for a total value of $124,020.00. Following the sale, the president now owns 62,755 shares of the company’s stock, valued at approximately $1,882,650. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David H. Devilliers III sold 1,725 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.46, for a total transaction of $49,093.50. Following the completion of the transaction, the chief operating officer now owns 46,604 shares of the company’s stock, valued at approximately $1,326,349.84. The disclosure for this sale can be found here. Insiders have sold 11,589 shares of company stock valued at $342,079 over the last quarter. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On FRP

A number of hedge funds have recently made changes to their positions in the business. Hyman Charles D grew its holdings in FRP by 100.0% in the 2nd quarter. Hyman Charles D now owns 1,937,268 shares of the financial services provider’s stock worth $55,251,000 after buying an additional 968,822 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in FRP by 101.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after acquiring an additional 553,265 shares during the period. Vanguard Group Inc. grew its stake in shares of FRP by 2.1% in the first quarter. Vanguard Group Inc. now owns 325,563 shares of the financial services provider’s stock worth $19,990,000 after purchasing an additional 6,741 shares in the last quarter. LB Partners LLC increased its holdings in shares of FRP by 100.0% during the second quarter. LB Partners LLC now owns 125,802 shares of the financial services provider’s stock valued at $3,588,000 after purchasing an additional 62,901 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of FRP by 98.9% during the second quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock valued at $3,158,000 after purchasing an additional 55,067 shares in the last quarter. Institutional investors 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.