Frontier Communications Parent, Inc. $FYBR Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Frontier Communications Parent by 39.0% in the 1st quarter, acquiring an additional 1,228,524 shares to reach a total of 4,378,238 shares.
• During the same period, other hedge funds such as Jag Capital Management LLC and Fifth Third Bancorp also raised their stakes in Frontier Communications Parent.
• Frontier Communications reported a quarterly earnings loss of ($0.49) EPS, missing estimates, while its revenue increased by 4.0% year-over-year, reaching $1.54 billion.

Adage Capital Partners GP L.L.C. boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 39.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,378,238 shares of the company's stock after acquiring an additional 1,228,524 shares during the quarter. Adage Capital Partners GP L.L.C. owned 1.75% of Frontier Communications Parent worth $157,004,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in FYBR. Sona Asset Management US LLC acquired a new stake in Frontier Communications Parent in the 4th quarter valued at $51,179,000. Readystate Asset Management LP acquired a new stake in Frontier Communications Parent in the 1st quarter valued at $50,082,000. Fort Baker Capital Management LP acquired a new stake in Frontier Communications Parent in the 4th quarter valued at $42,037,000. Man Group plc acquired a new stake in Frontier Communications Parent in the 4th quarter valued at $39,501,000. Finally, Woodline Partners LP acquired a new stake in Frontier Communications Parent in the 4th quarter valued at $31,230,000.

Frontier Communications Parent Price Performance

FYBR traded up $0.13 on Friday, hitting $37.26. 5,829,823 shares of the company's stock were exchanged, compared to its average volume of 2,868,360. Frontier Communications Parent, Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $37.26. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. The firm has a 50-day moving average price of $36.81 and a 200-day moving average price of $36.37. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of -24.04 and a beta of 0.95.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm earned ($0.49) EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current 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.