FairPoint Communications Inc (FRP) Holdings Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of FairPoint Communications Inc (NASDAQ:FRP) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,141 shares of the technology company’s stock after selling 8,851 shares during the period. JPMorgan Chase & Co.’s holdings in FairPoint Communications were worth $2,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its position in shares of FairPoint Communications by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 82,435 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 513 shares during the last quarter. American International Group Inc. grew its holdings 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 valued at $217,000 after purchasing an additional 858 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of FairPoint Communications by 1.7% in the second quarter. Private Management Group Inc. now owns 84,593 shares of the technology company’s stock valued at $1,324,000 after purchasing an additional 1,423 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of FairPoint Communications by 9.3% in the second quarter. Rhumbline Advisers now owns 26,110 shares of the technology company’s stock valued at $409,000 after purchasing an additional 2,230 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of FairPoint Communications by 3.7% in the first quarter. TIAA CREF Investment Management LLC now owns 67,818 shares of the technology company’s stock valued at $1,126,000 after purchasing an additional 2,410 shares in the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.

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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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