FRP (NASDAQ:FRPH) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

FRP Holdings, Inc. (NASDAQ:FRPH)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.26 and traded as high as $31.48. FRP shares last traded at $31.18, with a volume of 36,743 shares changing hands.

Analyst Upgrades and Downgrades

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

FRP Price Performance

The company’s fifty day moving average price is $30.45 and its 200 day moving average price is $30.26. The company has a market cap of $593.36 million, a PE ratio of 77.95 and a beta of 0.50.

Hedge Funds Weigh In On FRP

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC bought a new position in shares of FRP in the fourth quarter valued at approximately $59,067,000. Dimensional Fund Advisors LP boosted its position in FRP by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,135,837 shares of the financial services provider’s stock worth $34,790,000 after purchasing an additional 14,124 shares during the last quarter. Vanguard Group Inc. grew its stake in FRP by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 661,164 shares of the financial services provider’s stock valued at $20,251,000 after purchasing an additional 10,663 shares during the period. State Street Corp grew its stake in FRP by 0.4% in the 3rd quarter. State Street Corp now owns 283,930 shares of the financial services provider’s stock valued at $8,478,000 after purchasing an additional 1,005 shares during the period. Finally, Northern Trust Corp increased its position in shares of FRP by 14.1% during the 4th quarter. Northern Trust Corp now owns 133,030 shares of the financial services provider’s stock valued at $4,075,000 after purchasing an additional 16,489 shares during the last quarter. Institutional investors own 45.42% of the company’s stock.

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.