Aristeia Capital L.L.C. Boosts Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Aristeia Capital L.L.C. raised its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 152.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,001,788 shares of the company's stock after purchasing an additional 1,208,699 shares during the period. Frontier Communications Parent accounts for approximately 2.3% of Aristeia Capital L.L.C.'s investment portfolio, making the stock its 11th biggest position. Aristeia Capital L.L.C. owned approximately 0.80% of Frontier Communications Parent worth $69,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $20,130,000. Bienville Capital Management LLC bought a new stake in Frontier Communications Parent during the 4th quarter worth approximately $3,596,000. Nexpoint Asset Management L.P. raised its stake in shares of Frontier Communications Parent by 17.7% during the fourth quarter. Nexpoint Asset Management L.P. now owns 17,310 shares of the company's stock valued at $601,000 after acquiring an additional 2,600 shares during the last quarter. One68 Global Capital LLC acquired a new stake in Frontier Communications Parent in the fourth quarter valued at $3,807,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at about $2,047,000.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the transaction, the executive vice president now owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded down $0.03 during trading on Wednesday, reaching $36.48. 1,392,802 shares of the company's stock traded hands, compared to its average volume of 2,678,414. The company has a market capitalization of $9.13 billion, a P/E ratio of -28.28 and a beta of 1.01. The firm's 50-day moving average is $35.96 and its 200 day moving average is $35.49. Frontier Communications Parent, Inc. has a 1 year low of $24.43 and a 1 year high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. The business's quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

FYBR has been the topic of a number of research analyst reports. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Finally, New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.07.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.