Versor Investments LP Buys Shares of 127,974 Frontier Communications Parent, Inc. $FYBR

Key Points

• Versor Investments LP has acquired 127,974 shares of Frontier Communications Parent, valued at approximately $4.59 million, marking it as the company's 9th largest holding.
• Other institutional investors, including Algert Global LLC and Russell Investments Group Ltd., have also increased their stakes in Frontier Communications by notable percentages during the first quarter.
• Frontier Communications reported a loss of $0.49 EPS in its last earnings report, missing estimates, but showed a 4% year-over-year revenue increase.

Versor Investments LP purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 127,974 shares of the company's stock, valued at approximately $4,589,000. Frontier Communications Parent comprises 0.7% of Versor Investments LP's holdings, making the stock its 9th biggest holding. Versor Investments LP owned 0.05% of Frontier Communications Parent as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Algert Global LLC increased its stake in Frontier Communications Parent by 11.1% in the 1st quarter. Algert Global LLC now owns 141,201 shares of the company's stock worth $5,063,000 after purchasing an additional 14,060 shares in the last quarter. Ethic Inc. increased its position in shares of Frontier Communications Parent by 13.3% in the first quarter. Ethic Inc. now owns 28,921 shares of the company's stock worth $1,038,000 after acquiring an additional 3,386 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Frontier Communications Parent by 28.7% during the first quarter. Kovitz Investment Group Partners LLC now owns 18,352 shares of the company's stock valued at $658,000 after acquiring an additional 4,093 shares during the period. Russell Investments Group Ltd. boosted its stake in Frontier Communications Parent by 52.1% in the 1st quarter. Russell Investments Group Ltd. now owns 7,744 shares of the company's stock worth $278,000 after purchasing an additional 2,653 shares during the period. Finally, HighTower Advisors LLC purchased a new position in Frontier Communications Parent during the 1st quarter worth approximately $322,000.

Frontier Communications Parent Stock Down 0.2%

NASDAQ FYBR traded down $0.06 during trading on Thursday, reaching $36.89. 2,288,296 shares of the company's stock were exchanged, compared to its average volume of 2,928,226. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a fifty-two week low of $27.67 and a fifty-two week high of $39.21. The company's fifty day simple moving average is $36.62 and its 200-day simple moving average is $36.26. The firm has a market capitalization of $9.23 billion, a PE ratio of -23.80 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.Frontier Communications Parent's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned ($0.49) earnings per share. Sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

About Frontier Communications Parent

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.