StockNews.com Upgrades FRP (NASDAQ:FRPH) to Buy

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

FRP Stock Performance

FRPH opened at $29.74 on Friday. FRP has a one year low of $26.75 and a one year high of $32.50. The stock’s fifty day moving average is $29.30 and its 200-day moving average is $29.57. The company has a market capitalization of $565.65 million, a PE ratio of 95.94 and a beta of 0.47.

FRP (NASDAQ:FRPH) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The company 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 other news, President David H. Devilliers, Jr. sold 2,280 shares of the business’s stock in a transaction 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 sale, the president now directly owns 51,003 shares of the company’s stock, valued at $1,506,118.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, President David H. Devilliers, Jr. sold 2,280 shares of the company’s stock in a transaction 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 directly owns 51,003 shares of the company’s stock, valued at approximately $1,506,118.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President David H. Devilliers, Jr. sold 4,134 shares of the company’s 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. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. Company insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FRPH. Hyman Charles D raised its position in FRP by 100.0% during the second quarter. Hyman Charles D now owns 1,937,268 shares of the financial services provider’s stock valued at $55,251,000 after buying an additional 968,822 shares during the period. Dimensional Fund Advisors LP raised its position in FRP by 101.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock valued at $31,266,000 after buying an additional 553,265 shares during the period. LB Partners LLC increased its position in FRP by 100.0% in the 2nd quarter. LB Partners LLC now owns 125,802 shares of the financial services provider’s stock worth $3,588,000 after purchasing an additional 62,901 shares during the last quarter. Salem Investment Counselors Inc. increased its position in FRP by 98.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock worth $3,158,000 after purchasing an additional 55,067 shares during the last quarter. Finally, Oppenheimer & Close LLC increased its position in FRP by 100.0% in the 2nd quarter. Oppenheimer & Close LLC now owns 93,368 shares of the financial services provider’s stock worth $2,663,000 after purchasing an additional 46,684 shares during the last quarter. 45.42% of the stock is owned by institutional investors and hedge funds.

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.