FRP (NASDAQ:FRPH) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of FRP (NASDAQ:FRPH) from a hold rating to a buy rating in a research note issued to investors on Saturday.

FRP Stock Performance

Shares of NASDAQ FRPH opened at $29.84 on Friday. The company’s 50 day moving average price is $29.49 and its 200-day moving average price is $29.56. FRP has a 52-week low of $26.75 and a 52-week high of $32.50. The company has a market capitalization of $567.56 million, a P/E ratio of 96.26 and a beta of 0.47.

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. FRP had a net margin of 18.12% and a return on equity of 1.67%. The business had revenue of $10.48 million for the quarter.

Insiders Place Their Bets

In related news, President David H. Devilliers, Jr. sold 2,280 shares of the business’s stock in a transaction 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 owns 51,003 shares in the company, valued at $1,506,118.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President David H. Devilliers, Jr. sold 2,280 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $29.53, for a total value of $67,328.40. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the sale, the president now directly owns 62,755 shares of the company’s stock, valued at $1,882,650. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,589 shares of company stock worth $342,079. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of FRP

Several hedge funds have recently bought and sold shares of FRPH. Trust Co. of Vermont lifted its position in FRP by 100.0% in the 2nd quarter. Trust Co. of Vermont now owns 1,700 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 850 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of FRP in the third quarter valued at approximately $155,000. BNP Paribas Financial Markets boosted its position in shares of FRP by 68.2% during the first 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 last quarter. State Board of Administration of Florida Retirement System bought a new stake in FRP during the first quarter worth $248,000. Finally, American Century Companies Inc. purchased a new stake in FRP in the 2nd quarter valued at $250,000. Institutional investors and hedge funds 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.