DLD Asset Management LP Reduces Stock Holdings in Frontier Communications Parent, Inc. $FYBR

Key Points

• DLD Asset Management LP has reduced its stake in Frontier Communications Parent, Inc. by 71.1%, owning 43,185 shares after selling 106,252 shares in the first quarter.
• Wealth Enhancement Advisory Services LLC and other institutional investors have made adjustments to their positions in Frontier, with Wealth Enhancement increasing its stake by 23.3%.
• Frontier Communications reported a quarterly earnings per share of ($0.49), missing the consensus estimate and reflecting a negative net margin of 6.40%.

DLD Asset Management LP lessened its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 71.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,185 shares of the company's stock after selling 106,252 shares during the quarter. DLD Asset Management LP's holdings in Frontier Communications Parent were worth $1,549,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FYBR. Geneos Wealth Management Inc. lifted its position in shares of Frontier Communications Parent by 957.5% during the first quarter. Geneos Wealth Management Inc. now owns 772 shares of the company's stock worth $28,000 after purchasing an additional 699 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Frontier Communications Parent by 46.1% during the first quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock worth $41,000 after purchasing an additional 359 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Frontier Communications Parent by 360.7% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after purchasing an additional 1,533 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of Frontier Communications Parent during the first quarter worth about $74,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $76,000.

Frontier Communications Parent Stock Up 0.0%

Shares of FYBR traded up $0.01 during mid-day trading on Wednesday, hitting $37.42. 575,959 shares of the company's stock were exchanged, compared to its average volume of 2,966,565. The stock's 50-day moving average is $36.94 and its 200-day moving average is $36.45. The company has a market cap of $9.37 billion, a price-to-earnings ratio of -24.14 and a beta of 0.95. Frontier Communications Parent, Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $37.81. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its earnings results 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). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned ($0.49) EPS. On average, sell-side 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.