FairPoint Communications, Inc. (FRP) Shares Bought by Alambic Investment Management L.P.
Alambic Investment Management L.P. increased its stake in shares of FairPoint Communications, Inc. (NASDAQ:FRP) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,251 shares of the company’s stock after buying an additional 980 shares during the period. Alambic Investment Management L.P. owned about 0.27% of FairPoint Communications worth $1,086,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC raised its stake in FairPoint Communications by 84.3% in the third quarter. Algert Global LLC now owns 216,057 shares of the company’s stock valued at $3,247,000 after buying an additional 98,853 shares in the last quarter. California State Teachers Retirement System increased its stake in FairPoint Communications by 0.9% in the second quarter. California State Teachers Retirement System now owns 44,517 shares of the company’s stock valued at $654,000 after buying an additional 385 shares during the last quarter. AJO LP increased its stake in FairPoint Communications by 70.0% in the second quarter. AJO LP now owns 476,691 shares of the company’s stock valued at $6,998,000 after buying an additional 196,316 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in FairPoint Communications by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 227,975 shares of the company’s stock valued at $3,347,000 after buying an additional 16,200 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its stake in FairPoint Communications by 15.4% in the second quarter. ClariVest Asset Management LLC now owns 58,484 shares of the company’s stock valued at $860,000 after buying an additional 7,800 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.
FairPoint Communications, Inc. (NASDAQ:FRP) traded up 0.54% during mid-day trading on Friday, reaching $18.60. 161,025 shares of the company traded hands. The company’s 50-day moving average is $18.41 and its 200-day moving average is $15.76. FairPoint Communications, Inc. has a 12-month low of $12.69 and a 12-month high of $19.60. The stock has a market capitalization of $499.76 million, a price-to-earnings ratio of 3.85 and a beta of 0.26.
FairPoint Communications (NASDAQ:FRP) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $207.10 million for the quarter, compared to analysts’ expectations of $206.60 million. FairPoint Communications had a net margin of 15.70% and a negative return on equity of 627.47%. Equities analysts predict that FairPoint Communications, Inc. will post $4.62 earnings per share for the current fiscal year.
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FRP has been the subject of several research reports. Zacks Investment Research raised shares of FairPoint Communications from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, November 7th. Jefferies Group lifted their price target on shares of FairPoint Communications from $15.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, December 6th.
About FairPoint Communications
FairPoint Communications, Inc is a provider of communications services to business, wholesale and residential customers within its service territories. The Company operates through providing data, voice and communications services to business, wholesale and residential customers segment. The Company provides services, such as Data and Internet Services, which include optical, Ethernet, IP services, Ethernet virtual circuit technology for cellular backhaul and private line special access services; Voice Services, which include Local Calling Services, Long Distance Services and 9-1-1 Services; Access, which include Network Transport Services, Network Switched Access Service, Interstate Access Charges and Intrastate Access Charges, and Other services, which include video services, including cable television and video-over- digital subscriber line (DSL), and directory services.
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