Stock SEC Filing: Mudrick Capital Management Just Disclosed New Fairpoint Communications Inc Position

Stock SEC Filing: Mudrick Capital Management Just Disclosed New Fairpoint Communications Inc Position

The New Mudrick Capital Management Holding in Fairpoint Communications Inc

Mudrick Capital Management filed with the SEC SC 13G form for Fairpoint Communications Inc. The form can be accessed here: 000095010316017831. As reported in Mudrick Capital Management’s form, the filler as of late owns 6.5% or 1,765,507 shares of the Utilities & Telecommunications–company.

Fairpoint Communications Inc stake is a new one for the and it was filed because of activity on November 1, 2016. We feel this shows Mudrick Capital Management’s positive view for the stock.

Fairpoint Communications Inc Institutional Sentiment

Latest Security and Exchange filings show 93 investors own Fairpoint Communications Inc. The institutional ownership in Q3 2015 is high, at 107.27% of the outstanding shares. This is increased by 3945667 the total institutional shares. 29038114 were the shares owned by these institutional investors. In total 23 funds opened new Fairpoint Communications Inc stakes, 31 increased stakes. There were 11 that closed positions and 24 reduced them.

4 managers had the stock in their top Ten. Notable investors are: New Generation Advisors Llc, Angelo Gordon & Co. L.P., Goldentree Asset Management Lp..

Eric Edidin And Josh Lobel Archer Capital Management Lp is an institutional investor bullish on Fairpoint Communications Inc, owning 1535480 shares as of Q3 2015 for 3.34% of its portfolio. Steven Tananbaum Goldentree Asset Management Lp owns 2490946 shares or 6.28% of its portfolio. NY Angelo Gordon & Company Lp have 5.80% of their stock portfolio for 5128325 shares. Further, Riverloft Capital Management Lp reported stake worth 2.49% of its US stock portfolio. The MA New Generation Advisors Llc owns 1567128 shares. Fairpoint Communications Inc is 12.42% of the manager’s US portfolio.

Business Profile

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. It provides cellular transport, also known as backhaul, through over 1,900 mobile Ethernet backhaul connections.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Insitutional Activity: The institutional sentiment increased to 1.47 in 2016 Q2. Its up 0.11, from 1.36 in 2016Q1. The ratio is positive, as 8 funds sold all FairPoint Communications Inc shares owned while 30 reduced positions. 19 funds bought stakes while 37 increased positions. They now own 24.43 million shares or 1.78% more from 24.00 million shares in 2016Q1.

New Generation Advsr Lc holds 1.55 million shares or 14.36% of its portfolio. Springbok Capital Limited Liability Company has 0.05% invested in the company for 23,931 shares. Archer Capital Lp last reported 1.31M shares in the company. Cardinal Mgmt Limited Liability Company Ct holds 71,575 shares or 0.05% of its portfolio. Federated Investors Inc Pa reported 110,723 shares or 0% of all its holdings. Strs Ohio has 38,400 shares for 0% of their US portfolio. D E Shaw & Company holds 125,205 shares or 0% of its portfolio. Schwab Charles Mngmt holds 227,975 shares or 0% of its portfolio. Mizuho Tru And Limited last reported 98,400 shares in the company. Smith Asset Ltd Partnership accumulated 8,300 shares or 0% of the stock. Wells Fargo & Mn holds 0% or 8,418 shares in its portfolio. The Germany-based Deutsche Fincl Bank Ag has invested 0% in FairPoint Communications Inc (NASDAQ:FRP). Credit Suisse Ag has 0.01% invested in the company for 497,710 shares. Teacher Retirement System Of Texas has 3,018 shares for 0% of their US portfolio. Jacobs Levy Equity Management owns 51,126 shares or 0.02% of their US portfolio.

The stock increased 0.61% or $0.1 during the last trading session, hitting $16.4. About 173,992 shares traded hands. FairPoint Communications Inc (NASDAQ:FRP) has risen 15.28% since April 8, 2016 and is uptrending. It has outperformed by 9.63% the S&P500.

FairPoint Communications, Inc. is a well-known provider of communications services to business, wholesale and residential clients within its service territories. The company has a market cap of $441.30 million. The Firm operates through providing data, voice and communications services to business, wholesale and residential clients segment. It has a 3.4 P/E ratio. The Firm 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 , and directory services.

More important recent FairPoint Communications Inc (NASDAQ:FRP) news were published by: Marketwatch.com which released: “FairPoint Communications Inc.” on October 26, 2009, also Seekingalpha.com published article titled: “FairPoint expands broadband in 50 Vermont towns”, Seekingalpha.com published: “Maglan Capital Letter To FairPoint Communications” on August 08, 2016. More interesting news about FairPoint Communications Inc (NASDAQ:FRP) was released by: Globenewswire.com and their article: “FairPoint Communications to Release 2016 Second Quarter Results” with publication date: July 20, 2016.

According to Zacks Investment Research, “FairPoint Communications, Inc. operates as a provider of communications services to rural and small urban communities, primarily in northern New England. Services offered by the Company includes including local and long distance voice, data, Internet, television and broadband services. The Company operates local exchange companies and also offers video services to its customers by reselling DirectTV content and providing cable and IP television video over digital subscriber line (DSL). FairPoint Communications, Inc. is headquartered in Charlotte, North Carolina.”

FRP Company Profile

FairPoint Communications, Inc., incorporated on June 30, 1993, is a well-known provider of communications services to business, wholesale and residential clients within its service territories. The Firm operates through providing data, voice and communications services to business, wholesale and residential clients segment. The Firm offers its clients a suite of data 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 IP services over its fiber network. The Firm also offers in addition to Internet access, high-speed data (HSD), and local and long distance voice services. The Firm 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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