FRP (NASDAQ:FRPH) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• FRP shares moved above their 200-day moving average, reaching $23.03 before closing at $22.80, compared with the $22.94 average.
• Analyst sentiment remains negative: Wall Street Zen downgraded FRP to “sell,” Weiss Ratings maintained a “sell (d)” rating, and the stock has a consensus “Sell” rating.
• Insiders purchased 15,946 shares worth approximately $349,926 over the past three months, while institutional investors and hedge funds own 45.42% of the company.

FRP Holdings, Inc. (NASDAQ:FRPH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.94 and traded as high as $23.03. FRP shares last traded at $22.80, with a volume of 89,056 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FRPH shares. Wall Street Zen cut shares of FRP from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of FRP in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

FRP Stock Up 0.1%

The business has a 50-day moving average of $23.43 and a 200-day moving average of $22.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $437.76 million, a price-to-earnings ratio of 1,139.00 and a beta of 0.51.

FRP (NASDAQ:FRPH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter. FRP had a net margin of 0.22% and a return on equity of 0.11%. The company had revenue of $11.08 million during the quarter.

Insider Buying and Selling

In related news, Director John D. Baker II purchased 8,189 shares of FRP stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average cost of $21.97 per share, with a total value of $179,912.33. Following the purchase, the director owned 3,059,389 shares of the company's stock, valued at approximately $67,214,776.33. The trade was a 0.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John D. Baker III acquired 6,800 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $21.91 per share, for a total transaction of $148,988.00. Following the completion of the acquisition, the chief executive officer owned 303,591 shares in the company, valued at approximately $6,651,678.81. The trade was a 2.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 15,946 shares of company stock worth $349,926 over the last three months. Insiders own 24.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in FRP by 42.5% during the 4th quarter. Russell Investments Group Ltd. now owns 1,622 shares of the financial services provider's stock worth $37,000 after purchasing an additional 484 shares during the period. Legal & General Group Plc boosted its stake in shares of FRP by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 11,715 shares of the financial services provider's stock valued at $315,000 after buying an additional 510 shares during the period. BNP Paribas Financial Markets grew its position in shares of FRP by 30.0% during the second quarter. BNP Paribas Financial Markets now owns 2,214 shares of the financial services provider's stock worth $60,000 after buying an additional 511 shares in the last quarter. Intrepid Capital Management Inc. grew its position in shares of FRP by 0.3% during the third quarter. Intrepid Capital Management Inc. now owns 176,510 shares of the financial services provider's stock worth $4,300,000 after buying an additional 570 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in shares of FRP by 0.8% during the second quarter. HB Wealth Management LLC now owns 84,751 shares of the financial services provider's stock worth $2,118,000 after buying an additional 633 shares during the period. 45.42% of the stock is currently owned by institutional investors and hedge funds.

FRP Company Profile

FRP Holdings, Inc NASDAQ: FRPH is an industrial services holding company that provides asset integrity and life-extension solutions to heavy-industry clients. Through its operating subsidiaries, FRP offers a broad suite of non-destructive testing (NDT), inspection services, mechanical maintenance, protective coatings, thermal spray and surface-preparation services. These offerings help clients maintain and extend the service life of critical equipment and infrastructure across multiple sectors.

The company's core activities include ultrasonic, radiographic and magnetic-particle testing, site-based inspections, welding and fabrication support, and specialized coating applications designed to withstand extreme environments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source