FRP (NASDAQ:FRPH) Upgraded by StockNews.com to “Buy”

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

FRP Trading Up 1.3 %

Shares of FRPH stock opened at $29.84 on Friday. The stock has a market cap of $567.56 million, a P/E ratio of 96.26 and a beta of 0.47. FRP has a 1 year low of $26.75 and a 1 year high of $32.50. The stock has a 50 day simple moving average of $29.49 and a 200 day simple moving average of $29.56.

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

Insider Buying and Selling at FRP

In related news, President David H. Devilliers, Jr. sold 4,134 shares of FRP stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.00, for a total value of $124,020.00. Following the transaction, the president now directly owns 62,755 shares of the company’s stock, valued at $1,882,650. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, President David H. Devilliers, Jr. sold 4,134 shares of the company’s stock in a transaction 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 sale, the president now directly owns 62,755 shares in the company, valued at $1,882,650. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David H. Devilliers III sold 1,725 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.46, for a total value of $49,093.50. Following the completion of the sale, the chief operating officer now directly owns 46,604 shares in the company, valued at $1,326,349.84. This trade represents a 0.00 % decrease in their ownership of the stock. 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 in the last ninety days. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FRP

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont increased its holdings 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 worth $48,000 after purchasing an additional 850 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 worth $199,000 after purchasing an additional 1,317 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of FRP in the first quarter valued at approximately $248,000. Sequoia Financial Advisors LLC raised its holdings in FRP by 100.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,218 shares of the financial services provider’s stock valued at $263,000 after buying an additional 4,609 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position 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 buying an additional 4,983 shares during the period. 45.42% of the stock is owned by institutional investors.

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.