Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by Alpine Associates Management Inc.

Key Points

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Alpine Associates Management Inc. raised its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 53.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,604,844 shares of the company's stock after buying an additional 562,214 shares during the period. Frontier Communications Parent makes up about 3.0% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 8th largest holding. Alpine Associates Management Inc. owned approximately 0.64% of Frontier Communications Parent worth $57,550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of FYBR. Parallel Advisors LLC grew its stake in Frontier Communications Parent by 360.7% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock valued at $70,000 after acquiring an additional 1,533 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Frontier Communications Parent in the 4th quarter worth approximately $76,000. UMB Bank n.a. boosted its stake in shares of Frontier Communications Parent by 113.9% during the 1st quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock valued at $81,000 after buying an additional 1,196 shares during the period. Fifth Third Bancorp grew its holdings in shares of Frontier Communications Parent by 15.4% during 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 in the last quarter. Finally, Whipplewood Advisors LLC increased its stake in shares of Frontier Communications Parent by 7,980.6% in 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 during the last quarter.

Frontier Communications Parent Stock Down 0.4%

FYBR traded down $0.14 during trading on Friday, reaching $36.60. 2,290,406 shares of the stock traded hands, compared to its average volume of 2,586,780. The stock's 50-day simple moving average is $36.49 and its two-hundred day simple moving average is $36.16. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.42. Frontier Communications Parent, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of -23.61 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.49) EPS. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

About Frontier Communications Parent

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.