JACKSONVILLE, Fla.—Martin E. Stein Jr., a director at FRP Holdings Inc. (NASDAQ:FRPH), recently sold 5,000 shares of the company's common stock. The shares were sold at an average price of $31.00 each, resulting in a total transaction value of $155,000. Following this sale, Stein directly owns 144,428 shares of FRP Holdings.
Additionally, Stein has an indirect interest in 241,800 shares held by The Regency Group II, a Florida general partnership, where he holds a 16.175% partnership interest. However, he disclaims beneficial ownership of these shares except for his pecuniary interest. The sale was conducted under a 10b5-1 trading plan established on March 14, 2024.
InvestingPro Insights
As Martin E. Stein Jr. reduces his direct stake in FRP Holdings Inc. (NASDAQ:FRPH), investors might want to consider some key financial metrics and insights from InvestingPro. The company's market capitalization stands at $584.43 million, reflecting its current market value. Despite the recent insider sale, FRPH's stock is trading near its 52-week high, with the price at 94.49% of its peak.
InvestingPro Tips highlight that FRPH is trading at a high earnings multiple, with a P/E ratio of 76.82. This valuation suggests investors are pricing in significant growth expectations. The company's revenue for the last twelve months as of Q3 2023 was $31.41 million, with a modest growth of 4.04% over the same period.
While FRPH operates with a moderate level of debt and maintains liquid assets that exceed short-term obligations, it's worth noting that the company does not pay a dividend to shareholders. This could indicate that FRPH is reinvesting profits into the business for future growth.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 8 more tips available for FRPH. These tips could provide valuable context for understanding the company's financial position and future prospects in light of recent insider transactions.
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