Carmignac Gestion Purchases New Position in Frontier Communications Parent, Inc. $FYBR

Key Points

• Carmignac Gestion has acquired a new stake in Frontier Communications Parent, Inc. by purchasing 34,501 shares valued at approximately $1,237,000 in the 1st quarter.
• Frontier Communications reported a loss of $0.49 per share for the last quarter, missing analysts' estimates, although revenue slightly exceeded expectations at $1.54 billion.
• The company's shares have shown volatility, with a 12-month low of $27.67 and a high of $39.21, indicating significant market movement.

Carmignac Gestion purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,501 shares of the company's stock, valued at approximately $1,237,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after purchasing an additional 359 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Frontier Communications Parent by 360.7% during 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 period. Longfellow Investment Management Co. LLC acquired a new stake in shares of Frontier Communications Parent in the first quarter valued at $74,000. Lazard Asset Management LLC acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $76,000. Finally, UMB Bank n.a. boosted its stake in shares of Frontier Communications Parent by 113.9% in the first quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock valued at $81,000 after purchasing an additional 1,196 shares during the period.

Frontier Communications Parent Stock Up 0.1%

Frontier Communications Parent stock traded up $0.05 during mid-day trading on Friday, reaching $36.94. 2,003,399 shares of the company's stock were exchanged, compared to its average volume of 2,848,067. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a twelve month low of $27.88 and a twelve month high of $39.21. The company has a market cap of $9.25 billion, a P/E ratio of -23.83 and a beta of 0.95. The company has a fifty day moving average of $36.65 and a 200-day moving average of $36.28.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The firm's revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) EPS. Sell-side 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.