Burren Capital Advisors Ltd Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• Burren Capital Advisors Ltd has acquired a new stake in Frontier Communications Parent, purchasing 53,768 shares valued at approximately $1.93 million, which accounts for about 6.9% of its total holdings.
• Frontier Communications reported a quarterly EPS of ($0.26), exceeding analyst expectations and showing a 3.5% increase in revenue compared to the previous year, totaling $1.51 billion.
• The company's market capitalization stands at $9.18 billion, with a PE ratio of -23.66 and a recent stock trading price of $36.67, reflecting a slightly negative performance.

Burren Capital Advisors Ltd bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 53,768 shares of the company's stock, valued at approximately $1,928,000. Frontier Communications Parent comprises about 6.9% of Burren Capital Advisors Ltd's holdings, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in Frontier Communications Parent by 60.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 92,700 shares of the company's stock valued at $3,324,000 after acquiring an additional 35,000 shares during the period. Cetera Investment Advisers lifted its stake in shares of Frontier Communications Parent by 5.6% in the 1st quarter. Cetera Investment Advisers now owns 18,610 shares of the company's stock worth $667,000 after purchasing an additional 991 shares during the period. Oak Thistle LLC boosted its holdings in shares of Frontier Communications Parent by 62.7% in the first quarter. Oak Thistle LLC now owns 26,589 shares of the company's stock worth $953,000 after buying an additional 10,250 shares during the last quarter. Readystate Asset Management LP purchased a new stake in Frontier Communications Parent during the first quarter valued at approximately $50,082,000. Finally, KLP Kapitalforvaltning AS raised its position in Frontier Communications Parent by 5.8% in the first quarter. KLP Kapitalforvaltning AS now owns 43,500 shares of the company's stock worth $1,560,000 after acquiring an additional 2,400 shares during the period.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded down $0.07 on Monday, reaching $36.60. 2,551,098 shares of the stock were exchanged, compared to its average volume of 2,930,629. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.39. Frontier Communications Parent, Inc. has a one year low of $24.43 and a one year high of $39.21. The firm has a market capitalization of $9.16 billion, a PE ratio of -23.61 and a beta of 0.95. The company's 50-day simple moving average is $36.50 and its two-hundred day simple moving average is $36.12.

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