American Century Companies Inc. Sells 346,575 Shares of Frontier Communications Parent, Inc. $FYBR

Key Points

• American Century Companies Inc. has reduced its stake in Frontier Communications Parent by 20.3% during the first quarter, holding 1,357,235 shares valued at approximately $48.67 million.
• Other institutional investors, such as Kovitz Investment Group and Russell Investments Group, have increased their positions in Frontier Communications, with boosts of 28.7% and 52.1%, respectively.
• Frontier Communications reported earnings of ($0.49) per share for the last quarter, missing the consensus estimate by $0.18, although revenue increased by 4% year-over-year.

American Century Companies Inc. cut its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 20.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,357,235 shares of the company's stock after selling 346,575 shares during the quarter. American Century Companies Inc. owned about 0.54% of Frontier Communications Parent worth $48,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FYBR. Vanguard Group Inc. raised its holdings in Frontier Communications Parent by 0.3% in the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock worth $873,364,000 after purchasing an additional 77,795 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Frontier Communications Parent in the fourth quarter worth $114,555,000. Adage Capital Partners GP L.L.C. raised its holdings in Frontier Communications Parent by 472.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock worth $109,295,000 after purchasing an additional 2,599,714 shares during the period. Northern Trust Corp raised its holdings in Frontier Communications Parent by 24.9% in the fourth quarter. Northern Trust Corp now owns 2,078,942 shares of the company's stock worth $72,139,000 after purchasing an additional 413,800 shares during the period. Finally, Aristeia Capital L.L.C. raised its holdings in Frontier Communications Parent by 152.4% in the fourth quarter. Aristeia Capital L.L.C. now owns 2,001,788 shares of the company's stock worth $69,462,000 after purchasing an additional 1,208,699 shares during the period.

Frontier Communications Parent Trading Up 0.1%

FYBR traded up $0.05 during mid-day trading on Friday, hitting $36.94. The stock had a trading volume of 2,003,399 shares, compared to its average volume of 2,848,067. The stock's fifty day simple moving average is $36.65 and its 200-day simple moving average is $36.28. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.49) 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 company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business earned ($0.49) earnings per share. The company's revenue was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS 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.