FRP (NASDAQ:FRPH) Downgraded to Hold at BidaskClub

FRP (NASDAQ:FRPH) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

Separately, ValuEngine raised FRP from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

FRPH opened at $50.07 on Tuesday. The stock has a market cap of $496.29 million, a price-to-earnings ratio of 77.72 and a beta of 0.66. FRP has a 1 year low of $41.51 and a 1 year high of $60.89. The company has a current ratio of 27.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $50.02 and a 200 day moving average price of $49.64.

In other FRP news, insider John D. Milton, Jr. sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.60, for a total value of $151,800.00. Following the completion of the sale, the insider now owns 3,000 shares of the company’s stock, valued at $151,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John D. Milton, Jr. sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.39, for a total value of $75,585.00. Following the completion of the sale, the executive vice president now directly owns 1,500 shares of the company’s stock, valued at approximately $75,585. The disclosure for this sale can be found here. Insiders sold 5,560 shares of company stock valued at $281,778 in the last ninety days. Insiders own 17.70% of the company’s stock.

Several large investors have recently made changes to their positions in FRPH. First Manhattan Co. lifted its position in shares of FRP by 145.2% during the 2nd quarter. First Manhattan Co. now owns 17,734 shares of the financial services provider’s stock worth $989,000 after purchasing an additional 10,501 shares during the last quarter. BlackRock Inc. increased its stake in FRP by 1.6% during the second quarter. BlackRock Inc. now owns 522,331 shares of the financial services provider’s stock valued at $29,130,000 after acquiring an additional 8,229 shares during the period. California Public Employees Retirement System increased its stake in FRP by 10.3% during the third quarter. California Public Employees Retirement System now owns 39,405 shares of the financial services provider’s stock valued at $1,892,000 after acquiring an additional 3,680 shares during the period. Russell Investments Group Ltd. increased its stake in FRP by 6.0% during the third quarter. Russell Investments Group Ltd. now owns 50,933 shares of the financial services provider’s stock valued at $2,446,000 after acquiring an additional 2,882 shares during the period. Finally, Ancora Advisors LLC increased its stake in FRP by 41.4% during the second quarter. Ancora Advisors LLC now owns 9,591 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 2,810 shares during the period. 48.17% of the stock is owned by institutional investors.

FRP Company Profile

FRP Holdings, Inc, through its subsidiaries, engages in various real estate businesses in the United States. The company operates through four segments: Asset Management, Mining Royalty Lands, Development, and Stabilized Joint Venture. The Asset Management segment owns, leases, and manages commercial properties.

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