AQR Capital Management LLC Grows Stock Holdings in Frontier Communications Parent, Inc. $FYBR

Key Points

• AQR Capital Management LLC increased its stake in Frontier Communications Parent, Inc. by 274.3%, acquiring an additional 106,245 shares and bringing its total holdings to approximately $5.2 million.
• Frontier Communications reported a loss of $0.49 per share for the latest quarter, missing expectations and showing a negative return on equity of 7.88%.
• The company's share price opened at $37.53, with a market cap of $9.39 billion and a 1-year trading range between $33.72 and $37.56.

AQR Capital Management LLC grew its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 274.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,982 shares of the company's stock after buying an additional 106,245 shares during the quarter. AQR Capital Management LLC owned 0.06% of Frontier Communications Parent worth $5,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Sona Asset Management US LLC purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $51,179,000. Readystate Asset Management LP purchased a new stake in shares of Frontier Communications Parent during the 1st quarter worth approximately $50,082,000. Adage Capital Partners GP L.L.C. increased its stake in shares of 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 worth $157,004,000 after purchasing an additional 1,228,524 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $31,230,000. Finally, TIG Advisors LLC purchased a new stake in shares of Frontier Communications Parent during the 1st quarter worth approximately $26,130,000.

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded down $0.06 during trading hours on Thursday, hitting $37.33. 3,443,280 shares of the company were exchanged, compared to its average volume of 3,173,204. The firm has a fifty day simple moving average of $36.97 and a 200 day simple moving average of $36.46. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a 52-week low of $33.72 and a 52-week high of $37.81. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of -24.08 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released 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). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the firm posted ($0.49) earnings per share. The firm's quarterly revenue was up 4.0% on a year-over-year basis. Research analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.