Insider Buying: FRP (NASDAQ:FRPH) CEO Acquires $78,433.60 in Stock

FRP Holdings, Inc. (NASDAQ:FRPH) CEO John Baker III acquired 4,172 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average cost of $18.80 per share, for a total transaction of $78,433.60. Following the acquisition, the chief executive officer owned 308,854 shares of the company’s stock, valued at $5,806,455.20. This represents a 1.37% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

FRP Price Performance

FRPH traded up $0.02 during midday trading on Friday, reaching $18.47. 103,026 shares of the company’s stock were exchanged, compared to its average volume of 127,682. FRP Holdings, Inc. has a 1-year low of $17.29 and a 1-year high of $25.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50-day moving average price is $20.05 and its 200 day moving average price is $22.20. The stock has a market capitalization of $354.59 million, a PE ratio of -461.75 and a beta of 0.54.

FRP (NASDAQ:FRPH) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $10.96 million for the quarter. FRP had a negative net margin of 1.68% and a negative return on equity of 0.07%.

Hedge Funds Weigh In On FRP

A number of hedge funds have recently made changes to their positions in FRPH. Sequoia Financial Advisors LLC raised its holdings in shares of FRP by 5.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,547 shares of the financial services provider’s stock valued at $264,000 after buying an additional 503 shares during the period. HB Wealth Management LLC lifted its position in FRP by 0.8% during the 2nd quarter. HB Wealth Management LLC now owns 84,751 shares of the financial services provider’s stock worth $2,118,000 after acquiring an additional 633 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in FRP by 30.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,555 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,306 shares during the period. Fifth Third Bancorp boosted its holdings in FRP by 8,350.0% in the 3rd quarter. Fifth Third Bancorp now owns 2,197 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 2,171 shares during the period. Finally, Bank of America Corp DE boosted its holdings in FRP by 36.8% in the 1st quarter. Bank of America Corp DE now owns 21,982 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 5,910 shares during the period. Institutional investors and hedge funds own 45.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FRPH shares. Weiss Ratings reiterated a “sell (d)” rating on shares of FRP in a research report on Monday, October 12th. Wall Street Zen cut FRP from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About FRP

FRP Holdings, Inc. is a real estate company that acquires, develops, owns and manages commercial and residential properties. Its portfolio includes industrial and commercial properties, multifamily communities, and land held for development. The company also holds mining royalty interests, earning income from land used by mining operators. These activities reflect FRP’s roots as Florida Rock Properties, the name under which the company previously operated. FRP serves markets primarily in the eastern United States, with real estate and development activities across several regions.