FRP (NASDAQ:FRPH) Rating Lowered to Hold at StockNews.com

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

FRP Stock Performance

NASDAQ:FRPH opened at $30.84 on Thursday. The company has a fifty day moving average of $29.54 and a two-hundred day moving average of $29.53. FRP has a fifty-two week low of $26.75 and a fifty-two week high of $32.50. The stock has a market capitalization of $586.89 million, a PE ratio of 77.10 and a beta of 0.47.

FRP (NASDAQ:FRPH) last issued its quarterly 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 firm had revenue of $10.48 million for the quarter.

Insider Buying and Selling

In other FRP news, COO David H. Devilliers III sold 1,725 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $29.62, for a total value of $51,094.50. Following the transaction, the chief operating officer now owns 48,329 shares in the company, valued at approximately $1,431,504.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other FRP news, COO David H. Devilliers III sold 1,725 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $29.62, for a total value of $51,094.50. Following the completion of the sale, the chief operating officer now owns 48,329 shares in the company, valued at approximately $1,431,504.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President David H. Devilliers, Jr. sold 2,280 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 51,003 shares in the company, valued at $1,506,118.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,589 shares of company stock worth $342,079. 22.20% of the stock is owned by corporate insiders.

Institutional Trading of FRP

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont grew its holdings in shares of FRP by 100.0% in the second quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 850 shares during the period. SG Americas Securities LLC acquired a new position in FRP in the 3rd quarter valued at about $155,000. BNP Paribas Financial Markets grew its stake in shares of FRP by 68.2% in the 1st quarter. BNP Paribas Financial Markets now owns 3,247 shares of the financial services provider’s stock valued at $199,000 after buying an additional 1,317 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of FRP during the 1st quarter worth approximately $248,000. Finally, American Century Companies Inc. purchased a new stake in shares of FRP during the 2nd quarter valued at approximately $250,000. 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.