LB Partners LLC Has $2.14 Million Holdings in FRP Holdings, Inc. $FRPH

Key Points

• LB Partners LLC reduced its holdings in FRP Holdings, Inc. by 36.7% in Q2, now owning about $2.14 million, which represents 1.4% of its total investment portfolio.
• Other institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have increased their positions, indicating ongoing interest in FRP despite its consensus "Sell" rating.
• FRP has a market cap of $482.91 million and reported earnings of $0.03 per share recently, with its stock priced at $25.27 as of the latest update.

LB Partners LLC cut its position in FRP Holdings, Inc. (NASDAQ:FRPH - Free Report) by 36.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,582 shares of the financial services provider's stock after selling 46,220 shares during the period. FRP accounts for about 1.4% of LB Partners LLC's investment portfolio, making the stock its 15th biggest position. LB Partners LLC owned 0.42% of FRP worth $2,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in FRP by 1.3% in the first quarter. Vanguard Group Inc. now owns 669,922 shares of the financial services provider's stock valued at $19,140,000 after buying an additional 8,758 shares in the last quarter. SCS Capital Management LLC acquired a new position in FRP in the first quarter valued at about $5,880,000. Goldman Sachs Group Inc. boosted its position in FRP by 59.6% in the first quarter. Goldman Sachs Group Inc. now owns 120,192 shares of the financial services provider's stock valued at $3,434,000 after buying an additional 44,874 shares in the last quarter. Guardian Wealth Management Inc. boosted its position in FRP by 49.4% in the first quarter. Guardian Wealth Management Inc. now owns 109,927 shares of the financial services provider's stock valued at $3,141,000 after buying an additional 36,360 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of FRP during the first quarter worth approximately $1,980,000. 45.42% of the stock is currently owned by institutional investors and hedge funds.

FRP Price Performance

FRPH opened at $25.27 on Monday. The company has a market cap of $482.91 million, a price-to-earnings ratio of 90.25 and a beta of 0.62. The firm has a 50 day simple moving average of $25.10 and a 200 day simple moving average of $26.31. FRP Holdings, Inc. has a fifty-two week low of $23.52 and a fifty-two week high of $33.00.

FRP (NASDAQ:FRPH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.03 earnings per share for the quarter. FRP had a net margin of 12.59% and a return on equity of 1.15%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of FRP in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FRP presently has a consensus rating of "Sell".

FRP 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.

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