FRP (NASDAQ:FRPH) Reaches New 12-Month High – Time to Buy?

Shares of FRP Holdings, Inc. (NASDAQ:FRPH) hit a new 52-week high on Friday . The stock traded as high as $32.50 and last traded at $32.16, with a volume of 28045 shares changing hands. The stock had previously closed at $31.70.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded FRP from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

FRP Stock Performance

The stock has a market capitalization of $618.09 million, a price-to-earnings ratio of 81.20 and a beta of 0.47. The firm’s 50 day moving average is $30.07 and its 200-day moving average is $29.59.

Insiders Place Their Bets

In related news, COO David H. Devilliers III sold 1,725 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $29.62, for a total value of $51,094.50. Following the completion of the transaction, the chief operating officer now owns 48,329 shares of the company’s stock, valued at approximately $1,431,504.98. This represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin E. Stein, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $31.00, for a total value of $155,000.00. Following the transaction, the director now owns 144,428 shares in the company, valued at $4,477,268. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,050 shares of company stock worth $578,493. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On FRP

A number of large investors have recently added to or reduced their stakes in FRPH. Trust Co. of Vermont grew its position 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 stake in FRP in the 3rd quarter worth about $155,000. State Board of Administration of Florida Retirement System purchased a new stake in FRP during the 1st quarter worth approximately $248,000. American Century Companies Inc. purchased a new stake in FRP during the 2nd quarter worth approximately $250,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of FRP by 100.0% during the second quarter. Sequoia Financial Advisors LLC now owns 9,218 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 4,609 shares during the last quarter. 45.42% of the stock is currently owned by institutional investors and hedge funds.

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.