Cambridge Investment Research Advisors Inc. grew its holdings in shares of FairPoint Communications Inc (NASDAQ:FRP) by 37.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 38,052 shares of the technology company’s stock after acquiring an additional 10,457 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in FairPoint Communications were worth $596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of FairPoint Communications by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 232,291 shares of the technology company’s stock worth $3,635,000 after buying an additional 21,349 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of FairPoint Communications by 65.3% in the 2nd quarter. SG Americas Securities LLC now owns 50,434 shares of the technology company’s stock worth $789,000 after buying an additional 19,927 shares in the last quarter. Rhumbline Advisers raised its stake in shares of FairPoint Communications by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 26,110 shares of the technology company’s stock worth $409,000 after buying an additional 2,230 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of FairPoint Communications by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 82,435 shares of the technology company’s stock worth $1,291,000 after buying an additional 513 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of FairPoint Communications by 11.3% in the 2nd quarter. Strs Ohio now owns 44,300 shares of the technology company’s stock worth $693,000 after buying an additional 4,500 shares in the last quarter. 88.63% of the stock is currently owned by institutional investors.

Separately, ValuEngine downgraded FairPoint Communications from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd.

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Shares of FairPoint Communications Inc (NASDAQ FRP) opened at 15.95 on Friday. The stock has a 50 day moving average price of $14.69 and a 200-day moving average price of $16.88. FairPoint Communications Inc has a 1-year low of $13.04 and a 1-year high of $19.60.

FairPoint Communications Profile

FairPoint Communications, Inc is a provider of data, voice and communications services to business, wholesale and residential customers within its service territories. The Company offers its customers a suite of services, such as Ethernet, Session Initiation Protocol Trunking (SIP-Trunking), hosted Primary Branch Exchange (hosted PBX), managed services, data center colocation services, high capacity data transport and other Internet protocol (IP)-based services over its fiber-based network.

Institutional Ownership by Quarter for FairPoint Communications (NASDAQ:FRP)

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