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

StockNews.com cut shares of FRP (NASDAQ:FRPH) from a buy rating to a hold rating in a report issued on Saturday.

FRP Stock Performance

Shares of NASDAQ:FRPH opened at $28.86 on Friday. The company has a market capitalization of $548.92 million, a PE ratio of 93.10 and a beta of 0.47. The stock has a fifty day moving average of $28.97 and a 200-day moving average of $29.74. FRP has a one year low of $26.59 and a one year high of $32.50.

Insider Activity

In related news, EVP John D. Milton, Jr. sold 1,500 shares of FRP stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $30.40, for a total value of $45,600.00. Following the transaction, the executive vice president now owns 960 shares of the company’s stock, valued at approximately $29,184. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FRP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in FRP by 116.2% during the 2nd quarter. Hsbc Holdings PLC now owns 9,272 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 4,983 shares during the period. Renaissance Technologies LLC grew its holdings in shares of FRP by 138.9% during the second quarter. Renaissance Technologies LLC now owns 44,200 shares of the financial services provider’s stock valued at $1,261,000 after buying an additional 25,700 shares in the last quarter. 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. Guardian Wealth Management Inc. lifted its stake in 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 in the last quarter. Finally, American Century Companies Inc. acquired a new stake in FRP during the 2nd quarter worth about $250,000. 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.