FRP (NASDAQ:FRPH) Stock Passes Above 200-Day Moving Average – Here’s What Happened

FRP Holdings, Inc. (NASDAQ:FRPH)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.78 and traded as high as $32.27. FRP shares last traded at $31.95, with a volume of 14,743 shares.

Analyst Upgrades and Downgrades

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

FRP Price Performance

The firm has a fifty day moving average of $30.74 and a 200 day moving average of $29.78. The stock has a market capitalization of $597.35 million, a price-to-earnings ratio of 78.48 and a beta of 0.50.

Insider Transactions at FRP

In other news, Director Martin E. Stein, Jr. sold 1,029 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $33.00, for a total value of $33,957.00. Following the completion of the sale, the director now directly owns 138,399 shares in the company, valued at $4,567,167. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John D. Milton, Jr. sold 960 shares of FRP stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $31.25, for a total value of $30,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,566 shares of company stock valued at $390,514. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On FRP

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of FRP by 119.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,945 shares of the financial services provider’s stock valued at $1,596,000 after buying an additional 30,484 shares during the period. Hyman Charles D grew its position in FRP by 100.0% in the second quarter. Hyman Charles D now owns 1,937,268 shares of the financial services provider’s stock worth $55,251,000 after acquiring an additional 968,822 shares during the period. Guardian Wealth Management Inc. increased its stake in FRP by 102.0% during the second quarter. Guardian Wealth Management Inc. now owns 74,145 shares of the financial services provider’s stock worth $2,115,000 after acquiring an additional 37,444 shares during the last quarter. Renaissance Technologies LLC raised its position in FRP by 138.9% in the second quarter. Renaissance Technologies LLC now owns 44,200 shares of the financial services provider’s stock valued at $1,261,000 after purchasing an additional 25,700 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of FRP in the 2nd quarter valued at $250,000. Hedge funds and other institutional investors own 45.42% of the company’s stock.

About FRP

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.