Bank of New York Mellon Corp Sells 47,312 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Bank of New York Mellon Corp reduced its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,588,544 shares of the company's stock after selling 47,312 shares during the period. Bank of New York Mellon Corp owned 0.63% of Frontier Communications Parent worth $56,965,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FYBR. Norges Bank acquired a new position in shares of Frontier Communications Parent during the fourth quarter worth approximately $191,247,000. Tudor Investment Corp ET AL acquired a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $114,555,000. Adage Capital Partners GP L.L.C. raised its holdings in Frontier Communications Parent by 472.7% during 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 in the last quarter. Sona Asset Management US LLC acquired a new stake in Frontier Communications Parent in the fourth quarter worth approximately $51,179,000. Finally, FIL Ltd acquired a new position in shares of Frontier Communications Parent during the 4th quarter valued at $49,228,000.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock traded up $0.06 during midday trading on Wednesday, hitting $36.81. The company's stock had a trading volume of 1,656,593 shares, compared to its average volume of 2,915,737. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.39. The stock's 50-day moving average price is $36.45 and its 200-day moving average price is $36.01. Frontier Communications Parent, Inc. has a 12 month low of $24.43 and a 12 month high of $39.21. The company has a market capitalization of $9.21 billion, a PE ratio of -23.75 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.07. Frontier Communications Parent had a negative return on equity of 7.73% and a negative net margin of 6.47%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.