FRP (FRPH) Rating Lowered 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 report issued on Friday.
Separately, TheStreet lowered FRP from a “b-” rating to a “c” rating in a research note on Friday, June 8th.
Shares of FRPH opened at $64.50 on Friday. FRP has a 52-week low of $41.90 and a 52-week high of $67.70. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.23.
In related news, insider John D. Klopfenstein sold 961 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $63.67, for a total transaction of $61,186.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President David H. Devilliers, Jr. sold 10,120 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $63.47, for a total value of $642,316.40. Following the sale, the president now directly owns 1,350 shares in the company, valued at approximately $85,684.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,967 shares of company stock worth $2,695,385. 17.31% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRPH. BlackRock Inc. boosted its holdings in shares of FRP by 11.8% during the 2nd quarter. BlackRock Inc. now owns 500,047 shares of the financial services provider’s stock valued at $32,378,000 after acquiring an additional 52,600 shares in the last quarter. FMR LLC boosted its holdings in shares of FRP by 721.8% during the 2nd quarter. FMR LLC now owns 48,767 shares of the financial services provider’s stock valued at $3,158,000 after acquiring an additional 42,833 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of FRP during the 1st quarter valued at $1,534,000. Raymond James & Associates boosted its holdings in shares of FRP by 330.8% during the 2nd quarter. Raymond James & Associates now owns 28,000 shares of the financial services provider’s stock valued at $1,813,000 after acquiring an additional 21,500 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of FRP by 298.3% during the 2nd quarter. Renaissance Technologies LLC now owns 23,900 shares of the financial services provider’s stock valued at $1,548,000 after acquiring an additional 17,900 shares in the last quarter. 50.14% of the stock is currently 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, Land Development and Construction, and RiverFront on the Anacostia. The Asset Management segment owns, leases, and manages warehouses and office buildings primarily located in the Baltimore, northern Virginia, and Washington, DC market areas.
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