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 report released on Saturday morning.

FRP Stock Down 0.8 %

Shares of FRPH opened at $30.20 on Friday. The company has a 50 day moving average of $29.47 and a two-hundred day moving average of $29.57. FRP has a twelve month low of $26.75 and a twelve month high of $32.50. The company has a market cap of $574.40 million, a price-to-earnings ratio of 97.42 and a beta of 0.47.

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

Insider Transactions at FRP

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 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President David H. Devilliers, Jr. sold 4,134 shares of the 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 owns 62,755 shares in the company, valued at approximately $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 can be accessed through this link. Also, President David H. Devilliers, Jr. sold 2,280 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $29.53, for a total transaction of $67,328.40. Following the completion of the sale, the president now directly owns 51,003 shares in the company, valued at $1,506,118.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,589 shares of company stock worth $342,079. Company insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FRPH. Trust Co. of Vermont grew its stake in shares of FRP by 100.0% during 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 during the period. SG Americas Securities LLC purchased a new stake in FRP during the third quarter worth $155,000. BNP Paribas Financial Markets grew 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 valued at $199,000 after buying an additional 1,317 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in FRP in the first quarter valued at $248,000. Finally, American Century Companies Inc. acquired a new position in shares of FRP in the second quarter worth about $250,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

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.