Alliancebernstein L.P. Has $76.30 Million Stake in Frontier Communications Parent, Inc. $FYBR

Key Points

• Alliancebernstein L.P. increased its stake in Frontier Communications Parent, Inc. by 36.4%, acquiring an additional 567,340 shares, bringing its total holdings to 2,127,715 shares valued at approximately $76.3 million.
• Other institutional investors such as Vanguard Group and Adage Capital Partners also expanded their positions in Frontier Communications, with significant increases in their shareholdings.
• Frontier Communications recently reported earnings of ($0.49) per share, missing analysts' expectations, but showed a 4% year-over-year revenue growth to $1.54 billion.

Alliancebernstein L.P. increased its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 36.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,127,715 shares of the company's stock after acquiring an additional 567,340 shares during the quarter. Alliancebernstein L.P. owned approximately 0.85% of Frontier Communications Parent worth $76,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FYBR. Brooklyn Investment Group boosted its position in shares of Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after purchasing an additional 359 shares during the period. Parallel Advisors LLC lifted its stake in Frontier Communications Parent by 360.7% during 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 in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of Frontier Communications Parent in the first quarter worth about $74,000. Lazard Asset Management LLC purchased a new position in shares of Frontier Communications Parent in the fourth quarter worth approximately $76,000. Finally, UMB Bank n.a. increased its position in shares of Frontier Communications Parent by 113.9% in 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.

Frontier Communications Parent Trading Up 0.1%

Shares of NASDAQ:FYBR traded up $0.04 during mid-day trading on Friday, hitting $37.53. The stock had a trading volume of 2,827,463 shares, compared to its average volume of 3,183,210. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $9.39 billion, a PE ratio of -24.21 and a beta of 0.95. Frontier Communications Parent, Inc. has a 12-month low of $33.72 and a 12-month high of $37.56. The company's 50 day moving average is $36.90 and its 200-day moving average is $36.42.

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 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 firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS 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.