FRP (NASDAQ:FRPH) Shares Cross Above 200 Day Moving Average – Here’s Why

FRP Holdings, Inc. (NASDAQ:FRPH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.83 and traded as high as $30.02. FRP shares last traded at $29.49, with a volume of 17,342 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of FRP from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th.

FRP Stock Performance

The business has a 50 day moving average of $30.92 and a 200-day moving average of $29.83. The company has a market capitalization of $546.92 million, a P/E ratio of 71.85 and a beta of 0.50.

Insider Buying and Selling

In related news, EVP John D. Milton, Jr. sold 960 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $31.25, for a total transaction of $30,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martin E. Stein, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $31.00, for a total transaction of $155,000.00. Following the transaction, the director now directly owns 144,428 shares of the company’s stock, valued at approximately $4,477,268. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,841 shares of company stock worth $339,972. Corporate insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On FRP

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in FRP by 101.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,096,293 shares of the financial services provider’s stock worth $31,266,000 after buying an additional 553,265 shares during the period. State Street Corp lifted its position in FRP by 0.4% during the third quarter. State Street Corp now owns 283,930 shares of the financial services provider’s stock valued at $8,478,000 after buying an additional 1,005 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of FRP by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,415 shares of the financial services provider’s stock worth $3,267,000 after buying an additional 1,845 shares during the period. Guardian Wealth Management Inc. raised its holdings in FRP by 102.0% in the second quarter. Guardian Wealth Management Inc. now owns 74,145 shares of the financial services provider’s stock worth $2,115,000 after buying an additional 37,444 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of FRP by 119.7% in the second quarter. Bank of New York Mellon Corp now owns 55,945 shares of the financial services provider’s stock worth $1,596,000 after buying an additional 30,484 shares in the last quarter. 45.42% of the stock is owned by hedge funds and other institutional investors.

FRP Company Profile

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.