Today, Mizuho Trust & Banking Co. Ltd. Holds Position in FairPoint Communications Inc. (FRP)

Today, Mizuho Trust & Banking Co. Ltd. Holds Position in FairPoint Communications Inc. (FRP)
Mizuho Trust & Banking Co. Ltd. held its stake in FairPoint Communications Inc. (NASDAQ:FRP) during the third quarter, Holdings Channel reports. The institutional investor owned 98,400 shares of the company’s stock at the end of the third quarter. Mizuho Trust & Banking Co. Ltd. owned about 0.37% of FairPoint Communications worth $1,479,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in FRP. AJO LP raised its position in shares of FairPoint Communications by 70.0% in the second quarter. AJO LP now owns 476,691 shares of the company’s stock worth $6,998,000 after buying an additional 196,316 shares during the period. SECOR Capital Advisors LP raised its position in shares of FairPoint Communications by 63.0% in the second quarter. SECOR Capital Advisors LP now owns 74,547 shares of the company’s stock worth $1,095,000 after buying an additional 28,821 shares during the period. Alambic Investment Management L.P. raised its position in shares of FairPoint Communications by 18.0% in the second quarter. Alambic Investment Management L.P. now owns 71,271 shares of the company’s stock worth $1,046,000 after buying an additional 10,851 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of FairPoint Communications by 8.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 130,644 shares of the company’s stock worth $1,918,000 after buying an additional 9,846 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of FairPoint Communications by 165.3% in the second quarter. GSA Capital Partners LLP now owns 93,801 shares of the company’s stock worth $1,377,000 after buying an additional 58,451 shares during the period. 92.19% of the stock is currently owned by institutional investors.

FairPoint Communications Inc. (NASDAQ:FRP) traded up 3.26% during trading on Friday, reaching $17.40. 59,897 shares of the company were exchanged. The firm’s 50 day moving average is $15.81 and its 200 day moving average is $14.79. FairPoint Communications Inc. has a 52-week low of $12.69 and a 52-week high of $18.87. The stock has a market capitalization of $467.52 million, a PE ratio of 3.60 and a beta of 0.27.

FairPoint Communications (NASDAQ:FRP) last announced its earnings results on Wednesday, November 2nd. The company reported $1.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.60 by $0.12. FairPoint Communications had a net margin of 15.70% and a negative return on equity of 627.47%. The business earned $207.10 million during the quarter, compared to analyst estimates of $206.60 million. Analysts expect that FairPoint Communications Inc. will post $4.49 EPS for the current year.

A number of brokerages have recently issued reports on FRP. Zacks Investment Research lowered shares of FairPoint Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Jefferies Group reiterated a “hold” rating on shares of FairPoint Communications in a research report on Thursday, August 4th. Finally, Drexel Hamilton lowered shares of FairPoint Communications from a “buy” rating to a “hold” rating in a research report on Friday, July 29th.

About FairPoint Communications

FairPoint Communications, Inc is a provider of communications services to business, wholesale and residential customers within its service territories. The Company operates through providing data, voice and communications services to business, wholesale and residential customers segment. The Company provides services, such as Data and Internet Services, which include optical, Ethernet, IP services, Ethernet virtual circuit technology for cellular backhaul and private line special access services; Voice Services, which include Local Calling Services, Long Distance Services and 9-1-1 Services; Access, which include Network Transport Services, Network Switched Access Service, Interstate Access Charges and Intrastate Access Charges, and Other services, which include video services, including cable television and video-over- digital subscriber line (DSL), and directory services.

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