Nomura Holdings Inc. purchased a new position in shares of FairPoint Communications Inc (NASDAQ:FRP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the technology company’s stock, valued at approximately $496,000. Nomura Holdings Inc. owned about 0.11% of FairPoint Communications at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in FRP. State Street Corp raised its position in FairPoint Communications by 8.2% in the fourth quarter. State Street Corp now owns 387,199 shares of the technology company’s stock valued at $7,240,000 after buying an additional 29,412 shares during the last quarter. Dimensional Fund Advisors LP raised its position in FairPoint Communications by 37.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 229,160 shares of the technology company’s stock valued at $4,285,000 after buying an additional 62,200 shares during the last quarter. Yakira Capital Management Inc. acquired a new position in FairPoint Communications during the first quarter valued at $861,000. Wells Fargo & Company MN raised its position in FairPoint Communications by 9.5% in the first quarter. Wells Fargo & Company MN now owns 661,337 shares of the technology company’s stock valued at $10,978,000 after buying an additional 57,192 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in FairPoint Communications during the fourth quarter valued at $221,000. Institutional investors own 88.63% of the company’s stock.
FairPoint Communications Inc (NASDAQ:FRP) opened at 15.95 on Wednesday. FairPoint Communications Inc has a one year low of $13.04 and a one year high of $19.60. The firm has a 50-day moving average of $14.69 and a 200-day moving average of $16.88.
FairPoint Communications (NASDAQ:FRP) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by $0.11. The company had revenue of $201.91 million for the quarter, compared to analyst estimates of $199.98 million. Equities research analysts expect that FairPoint Communications Inc will post ($2.03) earnings per share for the current year.
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A number of equities analysts have commented on FRP shares. ValuEngine lowered shares of FairPoint Communications from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of FairPoint Communications from a “buy” rating to a “hold” rating in a report on Monday, May 8th.
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.
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