Citadel Advisors LLC Takes $388,000 Position in FairPoint Communications Inc (FRP)

Citadel Advisors LLC acquired a new stake in FairPoint Communications Inc (NASDAQ:FRP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,814 shares of the technology company’s stock, valued at approximately $388,000.

Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in FairPoint Communications by 2.8% in the second quarter. Renaissance Technologies LLC now owns 1,334,863 shares of the technology company’s stock valued at $20,891,000 after acquiring an additional 36,437 shares during the period. K2 Principal Fund L.P. boosted its stake in FairPoint Communications by 94.0% in the second quarter. K2 Principal Fund L.P. now owns 63,646 shares of the technology company’s stock valued at $996,000 after acquiring an additional 30,846 shares during the period. Menta Capital LLC acquired a new position in FairPoint Communications in the second quarter valued at approximately $446,000. TIAA CREF Investment Management LLC boosted its stake in FairPoint Communications by 101.7% in the second quarter. TIAA CREF Investment Management LLC now owns 136,790 shares of the technology company’s stock valued at $2,140,000 after acquiring an additional 68,972 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in FairPoint Communications by 30.4% in the second quarter. Alliancebernstein L.P. now owns 31,300 shares of the technology company’s stock valued at $490,000 after acquiring an additional 7,300 shares during the period. 88.63% of the stock is owned by hedge funds and other institutional investors.

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FairPoint Communications Inc (FRP) opened at 15.95 on Wednesday. FairPoint Communications Inc has a 52 week low of $13.04 and a 52 week high of $19.60. The firm has a 50-day moving average price of $14.69 and a 200-day moving average price of $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.

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

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