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

by · The Markets Daily

StockNews.com upgraded shares of FRP (NASDAQ:FRPH – Free Report) from a hold rating to a buy rating in a research report released on Friday morning.

FRP Price Performance

Shares of FRPH opened at $29.80 on Friday. The stock has a market capitalization of $566.80 million, a price-to-earnings ratio of 96.13 and a beta of 0.47. FRP has a 1 year low of $26.75 and a 1 year high of $32.50. The business’s 50 day simple moving average is $29.37 and its 200-day simple moving average is $29.56.

FRP (NASDAQ:FRPH – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.11 earnings per share for the quarter. The company had revenue of $10.48 million for the quarter. FRP had a return on equity of 1.67% and a net margin of 18.12%.

Insider Activity at FRP

In other news, COO David H. Devilliers III sold 1,725 shares of the firm’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 directly owns 48,329 shares in the company, valued at $1,431,504.98. 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 4,134 shares of FRP stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.00, for a total value of $124,020.00. Following the sale, the president now owns 62,755 shares in the company, valued at $1,882,650. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David H. Devilliers III sold 1,725 shares of FRP stock in a transaction on 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 $1,431,504.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,589 shares of company stock valued at $342,079 over the last quarter. 22.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FRP

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of FRP in the 3rd quarter valued at $155,000. Hsbc Holdings PLC grew 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 worth $266,000 after purchasing an additional 4,983 shares in the last quarter. Renaissance Technologies LLC grew its stake in FRP by 138.9% during the 2nd quarter. Renaissance Technologies LLC now owns 44,200 shares of the financial services provider’s stock worth $1,261,000 after purchasing an additional 25,700 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in FRP by 101.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after purchasing an additional 553,265 shares in the last quarter. Finally, Guardian Wealth Management Inc. grew its stake in FRP by 102.0% during the 2nd quarter. Guardian Wealth Management Inc. now owns 74,145 shares of the financial services provider’s stock worth $2,115,000 after purchasing an additional 37,444 shares in the last quarter. Hedge funds and other institutional investors own 45.42% of the company’s stock.

About FRP

(Get Free Report)

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.

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