Cubist Systematic Strategies LLC Makes New Investment in Frontier Communications Parent, Inc. $FYBR

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Frontier Communications Parent, Inc. ($FYBR), purchasing 75,372 shares valued at approximately $2.7 million.
• Several large investors increased their holdings in Frontier Communications, with Brooklyn Investment Group raising its stake by 46.1% and Parallel Advisors LLC by 360.7% in the first quarter.
• The company's latest earnings report showed a miss on EPS estimates, posting ($0.49) versus a consensus estimate of ($0.31), while revenue increased by 4% year-over-year.

Cubist Systematic Strategies LLC purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 75,372 shares of the company's stock, valued at approximately $2,703,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Jag Capital Management LLC grew its holdings in shares of Frontier Communications Parent by 3.9% during the 1st quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock valued at $298,000 after acquiring an additional 311 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Frontier Communications Parent by 15.4% during the 1st quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock valued at $87,000 after acquiring an additional 323 shares in the last quarter. Xponance Inc. lifted its stake in shares of Frontier Communications Parent by 1.3% in the 1st quarter. Xponance Inc. now owns 26,712 shares of the company's stock valued at $958,000 after purchasing an additional 333 shares during the last quarter. Brooklyn Investment Group lifted its stake 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 valued at $41,000 after purchasing an additional 359 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of Frontier Communications Parent by 3.8% in the 4th quarter. Vident Advisory LLC now owns 10,726 shares of the company's stock valued at $372,000 after purchasing an additional 390 shares during the last quarter.

Frontier Communications Parent Stock Down 0.0%

Shares of FYBR stock traded down $0.02 on Wednesday, hitting $37.31. The company's stock had a trading volume of 1,990,619 shares, compared to its average volume of 2,956,880. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. Frontier Communications Parent, Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $37.38. The firm's fifty day moving average price is $36.85 and its 200-day moving average price is $36.39. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of -24.07 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results 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 firm had revenue of $1.54 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.49) EPS. Research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.