Kassirer Asset Management Corp Has $2,820,000 Stake in FairPoint Communications Inc (NASDAQ:FRP)

Kassirer Asset Management Corp continued to hold its stake in FairPoint Communications Inc (NASDAQ:FRP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,180 shares of the technology company’s stock at the end of the second quarter. FairPoint Communications accounts for 2.0% of Kassirer Asset Management Corp’s portfolio, making the stock its 16th largest position. Kassirer Asset Management Corp’s holdings in FairPoint Communications were worth $2,820,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of FairPoint Communications by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,421,232 shares of the technology company’s stock worth $40,193,000 after buying an additional 108,263 shares during the period. Gluskin Sheff & Assoc Inc. boosted its position in shares of FairPoint Communications by 513.1% in the first quarter. Gluskin Sheff & Assoc Inc. now owns 735,818 shares of the technology company’s stock worth $17,126,000 after buying an additional 615,798 shares during the period. FMR LLC boosted its position in shares of FairPoint Communications by 17.8% in the first quarter. FMR LLC now owns 706,063 shares of the technology company’s stock worth $11,721,000 after buying an additional 106,913 shares during the period. Wells Fargo & Company MN boosted its position in shares of FairPoint Communications by 9.5% in the first quarter. Wells Fargo & Company MN now owns 661,337 shares of the technology company’s stock worth $10,978,000 after buying an additional 57,192 shares during the period. Finally, Cowen Group Inc. boosted its position in shares of FairPoint Communications by 86.2% in the first quarter. Cowen Group Inc. now owns 656,225 shares of the technology company’s stock worth $10,893,000 after buying an additional 303,812 shares during the period. 88.63% of the stock is currently owned by institutional investors and hedge funds.

FairPoint Communications Inc (NASDAQ FRP) traded up 1.92% on Friday, hitting $15.95. 297,903 shares of the stock were exchanged. The company’s 50 day moving average price is $14.69 and its 200-day moving average price is $16.88. FairPoint Communications Inc has a one year low of $13.04 and a one year high of $19.60.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Week Herald and is the sole property of of Week Herald. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://weekherald.com/2017/08/13/fairpoint-communications-inc-nasdaqfrp-position-held-by-kassirer-asset-management-corp-updated.html.

A number of research analysts have recently commented on the stock. ValuEngine cut shares of FairPoint Communications from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of FairPoint Communications from a “buy” rating to a “hold” rating in a research report on Monday, May 8th.

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.

Institutional Ownership by Quarter for FairPoint Communications (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.

Leave a Reply