Alliancebernstein L.P. decreased its stake in shares of FairPoint Communications Inc (NASDAQ:FRP) by 28.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,000 shares of the technology company’s stock after selling 9,600 shares during the period. Alliancebernstein L.P.’s holdings in FairPoint Communications were worth $398,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. American International Group Inc. boosted its position in shares of FairPoint Communications by 7.0% in the first quarter. American International Group Inc. now owns 13,066 shares of the technology company’s stock worth $217,000 after buying an additional 858 shares during the last quarter. Strs Ohio boosted its position in shares of FairPoint Communications by 7.6% in the first quarter. Strs Ohio now owns 39,800 shares of the technology company’s stock worth $660,000 after buying an additional 2,800 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of FairPoint Communications by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 210,942 shares of the technology company’s stock worth $3,502,000 after buying an additional 3,385 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of FairPoint Communications by 24.5% in the fourth quarter. Teachers Advisors LLC now owns 44,945 shares of the technology company’s stock worth $840,000 after buying an additional 8,853 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of FairPoint Communications during the fourth quarter worth about $221,000. Institutional investors own 88.63% of the company’s stock.

Shares of FairPoint Communications Inc (NASDAQ FRP) traded up 1.92% during trading on Friday, hitting $15.95. The company had a trading volume of 297,903 shares. FairPoint Communications Inc has a 12-month low of $13.04 and a 12-month high of $19.60. The firm has a 50 day moving average of $14.69 and a 200 day moving average of $16.88.

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A number of equities analysts recently issued reports on the company. ValuEngine cut FairPoint Communications from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut 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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Institutional Ownership by Quarter for FairPoint Communications (NASDAQ:FRP)

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