K2 Principal Fund L.P. Has $996,000 Stake in FairPoint Communications Inc (FRP)
K2 Principal Fund L.P. lifted its holdings in shares of FairPoint Communications Inc (NASDAQ:FRP) by 94.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,646 shares of the technology company’s stock after buying an additional 30,846 shares during the quarter. K2 Principal Fund L.P.’s holdings in FairPoint Communications were worth $996,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. FNY Partners Fund LP acquired a new stake in shares of FairPoint Communications during the 1st quarter worth approximately $168,000. American International Group Inc. grew its position in shares of FairPoint Communications by 7.0% during the 1st quarter. American International Group Inc. now owns 13,066 shares of the technology company’s stock worth $217,000 after buying an additional 858 shares during the period. Texas Permanent School Fund acquired a new stake in shares of FairPoint Communications during the 1st quarter worth approximately $271,000. Engineers Gate Manager LP grew its position in shares of FairPoint Communications by 11.6% during the 2nd quarter. Engineers Gate Manager LP now owns 21,515 shares of the technology company’s stock worth $337,000 after buying an additional 2,242 shares during the period. Finally, Rhumbline Advisers grew its position in shares of FairPoint Communications by 9.3% during 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 during the period. Institutional investors own 88.63% of the company’s stock.
Separately, ValuEngine cut shares of 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) traded up 1.92% on Friday, reaching $15.95. 297,903 shares of the company were exchanged. FairPoint Communications Inc has a 12 month low of $13.04 and a 12 month high of $19.60. The company’s 50-day moving average price is $14.69 and its 200 day moving average price is $16.88.
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.
Want to see what other hedge funds are holding FRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FairPoint Communications Inc (NASDAQ:FRP).
Receive News & Ratings for FairPoint Communications Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FairPoint Communications Inc and related companies with MarketBeat.com's FREE daily email newsletter.