Rhumbline Advisers raised its stake in FairPoint Communications Inc (NASDAQ:FRP) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,110 shares of the technology company’s stock after acquiring an additional 2,230 shares during the quarter. Rhumbline Advisers’ holdings in FairPoint Communications were worth $409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parametric Portfolio Associates LLC increased its holdings in shares of FairPoint Communications by 43.0% during the first quarter. Parametric Portfolio Associates LLC now owns 154,923 shares of the technology company’s stock worth $2,572,000 after purchasing an additional 46,593 shares during the period. Nomura Holdings Inc. bought a new position in shares of FairPoint Communications during the first quarter worth approximately $496,000. Goldman Sachs Group Inc. increased its holdings in shares of FairPoint Communications by 136.1% during the first quarter. Goldman Sachs Group Inc. now owns 264,758 shares of the technology company’s stock worth $4,395,000 after purchasing an additional 152,613 shares during the period. Wellington Management Group LLP increased its holdings in shares of FairPoint Communications by 399.9% during the first quarter. Wellington Management Group LLP now owns 161,192 shares of the technology company’s stock worth $2,675,000 after purchasing an additional 128,944 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of FairPoint Communications by 275.2% during the first quarter. Bank of America Corp DE now owns 553,610 shares of the technology company’s stock worth $9,189,000 after purchasing an additional 406,044 shares during the period. 88.63% of the stock is currently owned by institutional investors.

FairPoint Communications Inc (FRP) opened at 15.95 on Friday. The stock’s 50 day moving average is $14.69 and its 200 day moving average is $16.88. FairPoint Communications Inc has a one year low of $13.04 and a one year high of $19.60.

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FairPoint Communications Company 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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