FRP (NASDAQ:FRPH) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

FRP Holdings, Inc. (NASDAQ:FRPH)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.57 and traded as high as $30.48. FRP shares last traded at $30.20, with a volume of 15,137 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of FRP from a “hold” rating to a “buy” rating in a report on Saturday.

FRP Price Performance

The firm has a market cap of $574.40 million, a price-to-earnings ratio of 97.42 and a beta of 0.47. The firm’s fifty day moving average is $29.47 and its 200-day moving average is $29.57.

FRP (NASDAQ:FRPH) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter. The business 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 Activity at FRP

In related news, President David H. Devilliers, Jr. sold 4,134 shares of the business’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President David H. Devilliers, Jr. sold 4,134 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.00, for a total transaction of $124,020.00. Following the transaction, the president now owns 62,755 shares in the company, valued at approximately $1,882,650. This represents 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 accessible through this link. 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 transaction, the president now owns 51,003 shares in the company, valued at $1,506,118.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,589 shares of company stock worth $342,079 over the last quarter. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On FRP

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of FRP by 119.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,945 shares of the financial services provider’s stock worth $1,596,000 after acquiring an additional 30,484 shares during the last quarter. Hyman Charles D raised its holdings in shares of 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 acquiring an additional 968,822 shares during the last quarter. Guardian Wealth Management Inc. raised its holdings in shares of FRP by 102.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 74,145 shares of the financial services provider’s stock worth $2,115,000 after acquiring an additional 37,444 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of FRP by 138.9% in the 2nd quarter. Renaissance Technologies LLC now owns 44,200 shares of the financial services provider’s stock worth $1,261,000 after acquiring an additional 25,700 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in shares of 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 acquiring an additional 55,067 shares during 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.