The Manufacturers Life Insurance Company increased its position in FairPoint Communications Inc (NASDAQ:FRP) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,373 shares of the technology company’s stock after acquiring an additional 1,105 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in FairPoint Communications were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FRP. CNH Partners LLC grew its holdings in FairPoint Communications by 40.9% during the second quarter. CNH Partners LLC now owns 573,084 shares of the technology company’s stock valued at $8,969,000 after purchasing an additional 166,474 shares during the period. Vanguard Group Inc. grew its holdings in FairPoint Communications by 4.7% during the first quarter. Vanguard Group Inc. now owns 2,421,232 shares of the technology company’s stock valued at $40,193,000 after purchasing an additional 108,263 shares during the period. Goldman Sachs Group Inc. grew its holdings in FairPoint Communications by 30.0% during the second quarter. Goldman Sachs Group Inc. now owns 344,086 shares of the technology company’s stock valued at $5,385,000 after purchasing an additional 79,328 shares during the period. TIAA CREF Investment Management LLC grew its holdings in FairPoint Communications by 101.7% during the second quarter. TIAA CREF Investment Management LLC now owns 136,790 shares of the technology company’s stock valued at $2,140,000 after purchasing an additional 68,972 shares during the period. Finally, York Capital Management Global Advisors LLC grew its holdings in FairPoint Communications by 28.8% during the second quarter. York Capital Management Global Advisors LLC now owns 235,000 shares of the technology company’s stock valued at $3,678,000 after purchasing an additional 52,499 shares during the period. 88.63% of the stock is owned by institutional investors.

Shares of FairPoint Communications Inc (NASDAQ:FRP) opened at $15.95 on Tuesday. FairPoint Communications Inc has a fifty-two week low of $13.04 and a fifty-two week high of $19.60. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of -12.15.

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About FairPoint Communications

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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