Angelo Gordon & CO. L.P. Takes $9.86 Million Position in Frontier Communications Parent, Inc. $FYBR

Key Points

• Angelo Gordon & CO. L.P. invested approximately $9.86 million in Frontier Communications Parent, acquiring 275,000 shares, which now represents 1.7% of its total holdings.
• Other institutional investors, including Brooklyn Investment Group and Parallel Advisors LLC, have also significantly increased their stakes in Frontier Communications during the first quarter of the year.
• Despite reporting a loss of $0.49 EPS in its latest quarterly earnings, Frontier Communications saw a 4.0% increase in revenue year-over-year, totaling $1.54 billion.

Angelo Gordon & CO. L.P. purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 275,000 shares of the company's stock, valued at approximately $9,862,000. Frontier Communications Parent comprises 1.7% of Angelo Gordon & CO. L.P.'s investment portfolio, making the stock its 22nd largest position. Angelo Gordon & CO. L.P. owned 0.11% of Frontier Communications Parent at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings 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 worth $41,000 after purchasing an additional 359 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Frontier Communications Parent by 360.7% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after purchasing an additional 1,533 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Frontier Communications Parent in the 1st quarter worth approximately $74,000. Lazard Asset Management LLC bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $76,000. Finally, UMB Bank n.a. lifted its holdings in shares of Frontier Communications Parent by 113.9% in the 1st quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock worth $81,000 after purchasing an additional 1,196 shares during the last quarter.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded up $0.06 during mid-day trading on Thursday, hitting $37.13. The company had a trading volume of 4,990,207 shares, compared to its average volume of 2,911,385. The firm's 50 day simple moving average is $36.78 and its two-hundred day simple moving average is $36.35. 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 stock has a market cap of $9.29 billion, a price-to-earnings ratio of -23.95 and a beta of 0.95. Frontier Communications Parent, Inc. has a 12 month low of $33.72 and a 12 month high of $37.23.

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 for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The business had revenue of $1.54 billion for 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 firm's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.49) EPS. As a group, equities research analysts forecast 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.