DLD Asset Management LP Cuts Stake 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% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FYBR. Vanguard Group Inc. raised its holdings in Frontier Communications Parent by 0.3% in the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock worth $873,364,000 after purchasing an additional 77,795 shares in the last quarter. Pentwater Capital Management LP bought a new position in Frontier Communications Parent in the first quarter worth $161,370,000. Millennium Management LLC raised its holdings in Frontier Communications Parent by 56.2% in the first quarter. Millennium Management LLC now owns 4,487,109 shares of the company's stock worth $160,908,000 after purchasing an additional 1,615,356 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Frontier Communications Parent by 39.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,378,238 shares of the company's stock worth $157,004,000 after purchasing an additional 1,228,524 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Frontier Communications Parent by 129.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company's stock worth $83,792,000 after purchasing an additional 1,316,597 shares in the last quarter.

Frontier Communications Parent Stock Down 0.0%

FYBR traded down $0.01 during trading on Tuesday, reaching $37.42. The stock had a trading volume of 1,480,949 shares, compared to its average volume of 2,970,930. The stock's 50 day moving average is $36.92 and its two-hundred day moving average is $36.44. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of -24.15 and a beta of 0.95. Frontier Communications Parent, Inc. has a one year low of $33.72 and a one year high of $37.81.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.Frontier Communications Parent's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.49) EPS. As a group, analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.