1832 Asset Management L.P. Takes Position 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) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 28,500 shares of the company's stock, valued at approximately $1,022,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group raised its position in shares of Frontier Communications Parent by 46.1% during the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock worth $41,000 after acquiring an additional 359 shares in the last quarter. Parallel Advisors LLC lifted its stake in Frontier Communications Parent by 360.7% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock valued at $70,000 after buying an additional 1,533 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Frontier Communications Parent during the first quarter worth approximately $74,000. Lazard Asset Management LLC purchased a new position in shares of Frontier Communications Parent during the fourth quarter worth approximately $76,000. Finally, UMB Bank n.a. grew its position in shares of Frontier Communications Parent by 113.9% during the first quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock worth $81,000 after acquiring an additional 1,196 shares during the last quarter.

Frontier Communications Parent Stock Performance

Shares of FYBR traded down $0.05 during mid-day trading on Friday, reaching $37.08. 2,604,098 shares of the company's stock were exchanged, compared to its average volume of 2,609,819. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $9.28 billion, a PE ratio of -23.92 and a beta of 0.95. The business's fifty day simple moving average is $36.73 and its 200-day simple moving average is $36.33. Frontier Communications Parent, Inc. has a 52-week low of $27.95 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its 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 business had revenue of $1.54 billion for 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%.The business's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.49) earnings per share. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Frontier Communications Parent 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.