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 report released on Friday morning.

FRP Stock Up 0.7 %

Shares of FRP stock opened at $29.94 on Friday. FRP has a 52-week low of $26.75 and a 52-week high of $32.50. The company has a 50 day moving average of $29.33 and a 200 day moving average of $29.57. The company has a market capitalization of $569.76 million, a P/E ratio of 75.80 and a beta of 0.47.

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

Insiders Place Their Bets

In other FRP news, President David H. Devilliers, Jr. sold 4,134 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.00, for a total transaction of $124,020.00. Following the transaction, the president now owns 62,755 shares of the company’s stock, valued at approximately $1,882,650. 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 can be accessed through this hyperlink. In other FRP news, President David H. Devilliers, Jr. sold 4,134 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the president now owns 62,755 shares in the company, valued at approximately $1,882,650. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President David H. Devilliers, Jr. sold 2,280 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $29.53, for a total transaction of $67,328.40. Following the sale, the president now owns 51,003 shares of the company’s stock, valued at approximately $1,506,118.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,589 shares of company stock valued at $342,079. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in 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 acquiring an additional 1,317 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in FRP in the 1st quarter valued at about $372,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of FRP during the 1st quarter worth about $248,000. Vanguard Group Inc. raised its position in shares of FRP by 2.1% in the first quarter. Vanguard Group Inc. now owns 325,563 shares of the financial services provider’s stock valued at $19,990,000 after buying an additional 6,741 shares during the last quarter. Finally, Mountain Lake Investment Management LLC acquired a new stake in FRP during the first quarter worth approximately $307,000. Hedge funds and other institutional investors 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.