FRP (NASDAQ:FRPH) Reaches New 1-Year High – What’s Next?

FRP Holdings, Inc. (NASDAQ:FRPH) shares reached a new 52-week high during trading on Friday . The stock traded as high as $32.50 and last traded at $32.16, with a volume of 28045 shares changing hands. The stock had previously closed at $31.70.

Wall Street Analyst Weigh In

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

FRP Stock Up 2.1 %

The company has a market capitalization of $615.62 million, a price-to-earnings ratio of 79.15 and a beta of 0.47. The stock has a 50 day simple moving average of $30.01 and a 200 day simple moving average of $29.59.

Insider Buying and Selling

In other news, EVP John D. Milton, Jr. sold 960 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $31.25, for a total value of $30,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President David H. Devilliers, Jr. sold 2,500 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $31.50, for a total value of $78,750.00. Following the completion of the sale, the president now owns 57,268 shares of the company’s stock, valued at $1,803,942. This trade represents a 4.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,050 shares of company stock worth $578,493. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On FRP

A number of large investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its position in shares of 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. SG Americas Securities LLC bought a new position in shares of FRP during the 3rd quarter valued at about $155,000. BNP Paribas Financial Markets raised its position in shares of FRP by 68.2% during the 1st 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 in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in FRP in the 1st quarter worth about $248,000. Finally, American Century Companies Inc. purchased a new position in shares of FRP during the second quarter worth approximately $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.