FRP Holdings, Inc. (NASDAQ:FRPH) Sees Significant Drop in Short Interest

FRP Holdings, Inc. (NASDAQ:FRPH - Get Free Report) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 88,200 shares, a decline of 6.7% from the November 30th total of 94,500 shares. Based on an average daily trading volume, of 23,400 shares, the short-interest ratio is presently 3.8 days.

FRP Stock Up 1.2 %

NASDAQ FRPH traded up $0.37 during trading hours on Tuesday, reaching $30.63. The company's stock had a trading volume of 18,308 shares, compared to its average volume of 22,608. FRP has a 1 year low of $26.99 and a 1 year high of $33.00. The firm's 50-day moving average price is $30.84 and its 200-day moving average price is $29.78. The company has a market capitalization of $582.89 million, a price-to-earnings ratio of 76.58 and a beta of 0.50.

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.

Insider Buying and Selling at FRP

In other news, 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 completion of the sale, the director now owns 144,428 shares of the company's stock, valued at $4,477,268. This represents a 3.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President David H. Devilliers, Jr. sold 1,281 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $31.22, for a total transaction of $39,992.82. Following the completion of the transaction, the president now directly owns 60,987 shares in the company, valued at approximately $1,904,014.14. The trade was a 2.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,841 shares of company stock worth $339,972. Insiders own 22.80% of the company's stock.

Institutional Trading of FRP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of FRP by 119.7% during the second quarter. Bank of New York Mellon Corp now owns 55,945 shares of the financial services provider's stock valued at $1,596,000 after purchasing an additional 30,484 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of FRP by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,415 shares of the financial services provider's stock valued at $3,267,000 after acquiring an additional 1,845 shares during the last quarter. Guardian Wealth Management Inc. raised its stake in FRP by 102.0% during the second quarter. Guardian Wealth Management Inc. now owns 74,145 shares of the financial services provider's stock valued at $2,115,000 after purchasing an additional 37,444 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of FRP by 138.9% in the 2nd quarter. Renaissance Technologies LLC now owns 44,200 shares of the financial services provider's stock worth $1,261,000 after buying an additional 25,700 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of FRP in the 2nd quarter worth about $250,000. 45.42% of the stock is currently owned by institutional investors.

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.