FRP (NASDAQ:FRPH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of FRP (NASDAQ:FRPH) from a hold rating to a buy rating in a report published on Friday.

FRP Stock Performance

FRPH opened at $29.80 on Friday. The firm has a market cap of $566.80 million, a P/E ratio of 96.13 and a beta of 0.47. The firm has a 50-day moving average of $29.37 and a 200 day moving average of $29.56. FRP has a fifty-two week low of $26.75 and a fifty-two week high of $32.50.

FRP (NASDAQ:FRPH) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.11 earnings per share for the quarter. The firm had revenue of $10.48 million during 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 2,280 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $29.53, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other FRP news, President David H. Devilliers, Jr. sold 2,280 shares of FRP stock in a transaction that occurred on 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 directly owns 51,003 shares of the company’s stock, valued at approximately $1,506,118.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President David H. Devilliers, Jr. sold 4,134 shares of the firm’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 transaction of $124,020.00. Following the completion of the transaction, the president now owns 62,755 shares in the company, valued at $1,882,650. This represents a 0.00 % decrease in their position. 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. 22.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FRP

A number of hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont grew its stake in shares of FRP by 100.0% during the 2nd 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 bought a new stake in shares of FRP during the 3rd quarter valued at about $155,000. BNP Paribas Financial Markets grew its stake in shares of FRP by 68.2% during the 1st quarter. BNP Paribas Financial Markets now owns 3,247 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 1,317 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of FRP during the 1st quarter valued at about $248,000. Finally, American Century Companies Inc. bought a new stake in shares of FRP during the 2nd quarter valued at about $250,000. Hedge funds and other institutional investors own 45.42% of the company’s stock.

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.