Engineers Gate Manager LP boosted its stake in shares of FairPoint Communications Inc (NASDAQ:FRP) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,515 shares of the technology company’s stock after purchasing an additional 2,242 shares during the period. Engineers Gate Manager LP’s holdings in FairPoint Communications were worth $337,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Management Group Inc. boosted its position in FairPoint Communications by 1.7% during the second quarter. Private Management Group Inc. now owns 84,593 shares of the technology company’s stock valued at $1,324,000 after purchasing an additional 1,423 shares during the last quarter. Swiss National Bank lifted its position in shares of FairPoint Communications by 46.8% in the second quarter. Swiss National Bank now owns 53,353 shares of the technology company’s stock valued at $835,000 after buying an additional 17,000 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of FairPoint Communications by 12.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 386,187 shares of the technology company’s stock valued at $6,044,000 after buying an additional 41,564 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of FairPoint Communications by 37.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 38,052 shares of the technology company’s stock valued at $596,000 after buying an additional 10,457 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of FairPoint Communications by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 232,291 shares of the technology company’s stock valued at $3,635,000 after buying an additional 21,349 shares during the last quarter. 88.63% of the stock is owned by hedge funds and other institutional investors.

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

Shares of FairPoint Communications Inc (NASDAQ FRP) opened at 15.95 on Tuesday. 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 52-week low of $13.04 and a 52-week high of $19.60.

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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.

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

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