Cinctive Capital Management LP Decreases Stock Holdings in Frontier Communications Parent, Inc. $FYBR

Key Points

• Cinctive Capital Management LP has reduced its stake in Frontier Communications Parent, Inc. by 1.8%, now holding 560,000 shares valued at approximately $20.08 million.
• Frontier Communications Parent reported a loss of $0.49 EPS, missing analysts' expectations, although revenue increased by 4.0% year-over-year.
• The company's market cap stands at $9.28 billion with a debt-to-equity ratio of 2.49, indicating significant leverage compared to its equity.

Cinctive Capital Management LP lessened its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,000 shares of the company's stock after selling 10,000 shares during the quarter. Frontier Communications Parent accounts for 1.5% of Cinctive Capital Management LP's investment portfolio, making the stock its 11th largest position. Cinctive Capital Management LP owned approximately 0.22% of Frontier Communications Parent worth $20,082,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FYBR. Sona Asset Management US LLC purchased a new position in Frontier Communications Parent in the 4th quarter valued at approximately $51,179,000. Readystate Asset Management LP bought a new stake in shares of Frontier Communications Parent in the 1st quarter valued at about $50,082,000. Adage Capital Partners GP L.L.C. boosted its holdings in Frontier Communications Parent by 39.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,378,238 shares of the company's stock valued at $157,004,000 after acquiring an additional 1,228,524 shares during the period. Fort Baker Capital Management LP bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $42,037,000. Finally, Man Group plc bought a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $39,501,000.

Frontier Communications Parent Trading Up 0.2%

NASDAQ:FYBR traded up $0.08 during midday trading on Tuesday, reaching $37.38. 2,640,823 shares of the stock traded hands, compared to its average volume of 2,946,552. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a fifty day moving average of $36.83 and a 200 day moving average of $36.38. The stock has a market capitalization of $9.36 billion, a P/E ratio of -24.11 and a beta of 0.95. Frontier Communications Parent, Inc. has a 12 month low of $33.72 and a 12 month high of $37.35.

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 the consensus estimate of ($0.31) by ($0.18). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted ($0.49) earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS 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.