Frontier Communications Parent, Inc. $FYBR is Absolute Gestao de Investimentos Ltda.'s 2nd Largest Position

Key Points

• Absolute Gestao de Investimentos Ltda. increased its ownership in Frontier Communications Parent, Inc. by 121.2%, acquiring an additional 703,168 shares, bringing its total holdings to 1,283,279 shares.
• Other institutional investors also increased their stakes in Frontier Communications, with Tudor Investment Corp investing approximately $114.6 million and Adage Capital Partners boosting its stake by 472.7%.
• Frontier Communications reported a quarterly earnings miss, with an EPS of ($0.49), which was below the expected ($0.31), despite a revenue increase of 4% year-over-year.

Absolute Gestao de Investimentos Ltda. raised its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 121.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,283,279 shares of the company's stock after buying an additional 703,168 shares during the period. Frontier Communications Parent comprises approximately 19.5% of Absolute Gestao de Investimentos Ltda.'s portfolio, making the stock its 2nd largest position. Absolute Gestao de Investimentos Ltda. owned about 0.51% of Frontier Communications Parent worth $46,018,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Mariner LLC boosted its holdings in shares of Frontier Communications Parent by 0.8% during the fourth 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 period. Jag Capital Management LLC boosted its holdings in shares of Frontier Communications Parent by 3.9% during the first quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock worth $298,000 after purchasing an additional 311 shares during the period. Fifth Third Bancorp boosted its holdings 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 purchasing an additional 323 shares during the period. Xponance Inc. boosted its holdings in shares of 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, Brooklyn Investment Group boosted its holdings in shares of Frontier Communications Parent by 46.1% during the first quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock worth $41,000 after purchasing an additional 359 shares during the period.

Frontier Communications Parent Trading Up 0.1%

Shares of Frontier Communications Parent stock traded up $0.05 during trading on Friday, reaching $36.94. 1,479,699 shares of the stock were exchanged, compared to its average volume of 2,919,172. 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 stock's fifty day moving average is $36.63 and its 200 day moving average is $36.27. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of -23.83 and a beta of 0.95. Frontier Communications Parent, Inc. has a 1 year low of $27.88 and a 1 year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its 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 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.49) earnings per share. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Frontier Communications Parent Company 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.