FairPoint Communications Inc (FRP) Position Cut by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in shares of FairPoint Communications Inc (NASDAQ:FRP) by 57.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,936 shares of the company’s stock after selling 26,757 shares during the period. GSA Capital Partners LLP’s holdings in FairPoint Communications were worth $373,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of FRP. Smith Asset Management Group LP raised its position in FairPoint Communications by 1.9% in the third quarter. Smith Asset Management Group LP now owns 8,460 shares of the company’s stock valued at $127,000 after buying an additional 160 shares during the last quarter. BlackRock Advisors LLC raised its position in FairPoint Communications by 1.1% in the third quarter. BlackRock Advisors LLC now owns 46,586 shares of the company’s stock valued at $700,000 after buying an additional 529 shares during the last quarter. Alambic Investment Management L.P. raised its position in FairPoint Communications by 1.4% in the third quarter. Alambic Investment Management L.P. now owns 72,251 shares of the company’s stock valued at $1,086,000 after buying an additional 980 shares during the last quarter. SECOR Capital Advisors LP raised its position in FairPoint Communications by 9.3% in the third quarter. SECOR Capital Advisors LP now owns 81,470 shares of the company’s stock valued at $1,224,000 after buying an additional 6,923 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in FairPoint Communications by 12.2% in the third quarter. California Public Employees Retirement System now owns 86,600 shares of the company’s stock valued at $1,302,000 after buying an additional 9,400 shares during the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.

Institutional Ownership by Quarter for FairPoint Communications (NASDAQ:FRP)

FairPoint Communications Inc (NASDAQ:FRP) opened at 16.50 on Friday. The firm has a market cap of $443.49 million, a price-to-earnings ratio of 4.30 and a beta of 0.32. The firm has a 50-day moving average of $17.08 and a 200-day moving average of $16.78. FairPoint Communications Inc has a one year low of $12.81 and a one year high of $19.60.

FairPoint Communications (NASDAQ:FRP) last released its quarterly earnings data on Monday, March 6th. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.41. FairPoint Communications had a net margin of 15.70% and a negative return on equity of 627.47%. Analysts anticipate that FairPoint Communications Inc will post ($1.60) EPS for the current year.

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FRP has been the topic of a number of recent analyst reports. Jefferies Group LLC cut their price objective on shares of FairPoint Communications from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, March 7th. Zacks Investment Research upgraded shares of FairPoint Communications from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday, March 9th.

FairPoint Communications Company Profile

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.

5 Day Chart for NASDAQ:FRP

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