Short Interest in FRP Holdings, Inc. (NASDAQ:FRPH) Drops By 8.8%

FRP Holdings, Inc. (NASDAQ:FRPH) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 100,200 shares, a drop of 8.8% from the August 31st total of 109,900 shares. Based on an average daily trading volume, of 27,900 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, President David H. Devilliers, Jr. sold 4,134 shares of the company’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 value of $124,020.00. Following the completion of the transaction, the president now directly owns 62,755 shares of the company’s stock, valued at $1,882,650. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President David H. Devilliers, Jr. sold 4,134 shares of the business’s 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 transaction, the president now directly owns 62,755 shares of the company’s stock, valued at approximately $1,882,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President David H. Devilliers, Jr. sold 2,280 shares of the 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 of the company’s stock, valued at approximately $1,506,118.59. The disclosure for this sale can be found here. Insiders have sold a total of 11,589 shares of company stock valued at $342,079 in the last 90 days. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FRPH. Hyman Charles D boosted its position in shares of FRP by 100.0% in 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 acquiring an additional 968,822 shares during the period. Dimensional Fund Advisors LP raised its position in shares of FRP by 101.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after buying an additional 553,265 shares in the last quarter. LB Partners LLC boosted its stake in 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 buying an additional 62,901 shares during the period. Salem Investment Counselors Inc. grew its position in FRP by 98.9% during the second quarter. Salem Investment Counselors Inc. now owns 110,734 shares of the financial services provider’s stock worth $3,158,000 after buying an additional 55,067 shares in the last quarter. Finally, Oppenheimer & Close LLC increased its stake 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 acquiring an additional 46,684 shares during the last quarter. Hedge funds and other institutional investors own 45.42% of the company’s stock.

FRP Price Performance

NASDAQ:FRPH traded down $0.58 on Tuesday, reaching $29.28. 12,851 shares of the company’s stock were exchanged, compared to its average volume of 22,243. The stock has a fifty day simple moving average of $29.34 and a 200-day simple moving average of $29.59. FRP has a 52 week low of $26.59 and a 52 week high of $32.50. The firm has a market cap of $556.91 million, a price-to-earnings ratio of 94.45 and a beta of 0.47.

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

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.