ABC Arbitrage SA Lowers Stock Holdings in 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 trimmed its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,795 shares of the company's stock after selling 8,765 shares during the period. Frontier Communications Parent accounts for approximately 1.0% of ABC Arbitrage SA's portfolio, making the stock its 26th largest holding. ABC Arbitrage SA owned 0.06% of Frontier Communications Parent worth $5,121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FYBR. Parallel Advisors LLC lifted its position in shares of Frontier Communications Parent by 360.7% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after acquiring an additional 1,533 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter worth $76,000. UMB Bank n.a. lifted 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 in the last quarter. Fifth Third Bancorp lifted its position in shares of Frontier Communications Parent by 15.4% during the first quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock worth $87,000 after acquiring an additional 323 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its position in shares of Frontier Communications Parent by 7,980.6% during the first quarter. Whipplewood Advisors LLC now owns 2,505 shares of the company's stock worth $90,000 after acquiring an additional 2,474 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR stock traded down $0.09 on Friday, reaching $36.58. The company's stock had a trading volume of 1,710,610 shares, compared to its average volume of 2,673,967. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a 12-month low of $27.19 and a 12-month high of $39.21. The company has a market capitalization of $9.16 billion, a P/E ratio of -23.60 and a beta of 0.95. The stock's 50 day simple moving average is $36.50 and its 200-day simple moving average is $36.19.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued 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 business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter last year, the business posted ($0.49) EPS. The company's quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict 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.