CNH Partners LLC Has $8.97 Million Position in FairPoint Communications Inc (FRP)

CNH Partners LLC boosted its stake in shares of FairPoint Communications Inc (NASDAQ:FRP) by 40.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 573,084 shares of the technology company’s stock after buying an additional 166,474 shares during the period. CNH Partners LLC’s holdings in FairPoint Communications were worth $8,969,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FNY Partners Fund LP bought a new position in FairPoint Communications during the 1st quarter valued at approximately $168,000. American International Group Inc. increased its position in FairPoint Communications by 7.0% during the 1st quarter. American International Group Inc. now owns 13,066 shares of the technology company’s stock valued at $217,000 after buying an additional 858 shares in the last quarter. Voya Investment Management LLC increased its position in FairPoint Communications by 14.7% during the 2nd quarter. Voya Investment Management LLC now owns 14,196 shares of the technology company’s stock valued at $222,000 after buying an additional 1,817 shares in the last quarter. Texas Permanent School Fund bought a new position in FairPoint Communications during the 1st quarter valued at approximately $271,000. Finally, Engineers Gate Manager LP increased its position in FairPoint Communications by 11.6% during the 2nd quarter. Engineers Gate Manager LP now owns 21,515 shares of the technology company’s stock valued at $337,000 after buying an additional 2,242 shares in the last quarter. 88.63% of the stock is owned by institutional investors.

Shares of FairPoint Communications Inc (FRP) traded up 1.92% during mid-day trading on Friday, reaching $15.95. The company’s stock had a trading volume of 297,903 shares. The firm’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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