ABC Arbitrage SA Sells 8,765 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• ABC Arbitrage SA has reduced its stake in Frontier Communications Parent, Inc. by 5.8%, now holding approximately $5.12 million worth of stock.
• Several hedge funds, including Parallel Advisors LLC and Whipplewood Advisors LLC, significantly increased their investments in Frontier Communications during the first quarter.
• The company reported earnings of ($0.49) per share, missing analysts' expectations, although its quarterly revenue increased by 4.0% from the previous year.

ABC Arbitrage SA decreased its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,795 shares of the company's stock after selling 8,765 shares during the period. Frontier Communications Parent comprises 1.0% of ABC Arbitrage SA's holdings, making the stock its 26th largest holding. ABC Arbitrage SA owned approximately 0.06% of Frontier Communications Parent worth $5,121,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Mariner LLC increased its stake in shares of Frontier Communications Parent by 0.8% during the 4th quarter. Mariner LLC now owns 37,731 shares of the company's stock worth $1,309,000 after purchasing an additional 301 shares during the last quarter. Jag Capital Management LLC increased its holdings in Frontier Communications Parent by 3.9% in the 1st quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock worth $298,000 after acquiring an additional 311 shares during the last quarter. Fifth Third Bancorp raised its stake in Frontier Communications Parent by 15.4% in the 1st quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock valued at $87,000 after acquiring an additional 323 shares during the period. Xponance Inc. boosted its position in Frontier Communications Parent by 1.3% during the first quarter. Xponance Inc. now owns 26,712 shares of the company's stock worth $958,000 after purchasing an additional 333 shares during the period. Finally, Vident Advisory LLC increased its stake in shares of Frontier Communications Parent by 3.8% in the fourth quarter. Vident Advisory LLC now owns 10,726 shares of the company's stock worth $372,000 after purchasing an additional 390 shares in the last quarter.

Frontier Communications Parent Price Performance

FYBR traded down $0.02 during trading on Thursday, reaching $36.67. 1,672,298 shares of the company were exchanged, compared to its average volume of 2,661,685. Frontier Communications Parent, Inc. has a 12-month low of $27.19 and a 12-month high of $39.21. The company's 50-day moving average is $36.49 and its two-hundred day moving average is $36.19. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. The company has a market cap of $9.18 billion, a price-to-earnings ratio of -23.66 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data 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). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the company posted ($0.49) earnings per share. Frontier Communications Parent's revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.