1832 Asset Management L.P. Acquires New Stake in Frontier Communications Parent, Inc. $FYBR

Key Points

• 1832 Asset Management L.P. has acquired a new stake in Frontier Communications Parent, purchasing 28,500 shares valued at approximately $1,022,000.
• Other institutional investors, including Brooklyn Investment Group and Parallel Advisors LLC, have also increased their positions significantly in Frontier Communications Parent in the first quarter.
• Frontier Communications reported earnings per share of ($0.49), missing estimates, but experienced a 4.0% increase in quarterly revenue year-over-year, totaling $1.54 billion.

1832 Asset Management L.P. bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,500 shares of the company's stock, valued at approximately $1,022,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Frontier Communications Parent by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock worth $873,364,000 after acquiring an additional 77,795 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Frontier Communications Parent during the 4th quarter worth $114,555,000. Northern Trust Corp grew its holdings in Frontier Communications Parent by 1.9% during the 1st quarter. Northern Trust Corp now owns 2,118,814 shares of the company's stock worth $75,981,000 after acquiring an additional 39,872 shares during the period. Aristeia Capital L.L.C. grew its holdings in Frontier Communications Parent by 152.4% during the 4th quarter. Aristeia Capital L.L.C. now owns 2,001,788 shares of the company's stock worth $69,462,000 after acquiring an additional 1,208,699 shares during the period. Finally, Alpine Associates Management Inc. grew its holdings in Frontier Communications Parent by 53.9% during the 1st quarter. Alpine Associates Management Inc. now owns 1,604,844 shares of the company's stock worth $57,550,000 after acquiring an additional 562,214 shares during the period.

Frontier Communications Parent Trading Down 0.1%

Shares of NASDAQ FYBR traded down $0.05 during midday trading on Friday, reaching $37.08. 2,604,098 shares of the stock were exchanged, compared to its average volume of 2,594,135. The business has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $36.32. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -23.92 and a beta of 0.95. Frontier Communications Parent, Inc. has a 12 month low of $27.95 and a 12 month high of $39.21. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.49) earnings per share. As a group, equities research analysts expect 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.