Hsbc Holdings PLC Raises Position in Frontier Communications Parent, Inc. $FYBR

Key Points

• Hsbc Holdings PLC increased its holdings in Frontier Communications Parent, Inc. by 71.1% in the 1st quarter, now owning 637,420 shares worth approximately $22.87 million.
• Multiple hedge funds, including LPL Financial and Russell Investments Group, have also raised their stakes in Frontier Communications during the fourth quarter.
• Frontier Communications reported a loss of $0.49 earnings per share for the last quarter, missing expectations, although its revenue increased by 4.0% year-over-year.

Hsbc Holdings PLC raised its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 71.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 637,420 shares of the company's stock after acquiring an additional 264,853 shares during the quarter. Hsbc Holdings PLC owned about 0.25% of Frontier Communications Parent worth $22,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FYBR. Brooklyn Investment Group increased its holdings in shares of Frontier Communications Parent by 46.1% in 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 during the period. Parallel Advisors LLC grew its position in Frontier Communications Parent by 360.7% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after acquiring an additional 1,533 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in Frontier Communications Parent during the first quarter valued at about $74,000. Lazard Asset Management LLC purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $76,000. Finally, UMB Bank n.a. boosted its position in Frontier Communications Parent by 113.9% during the first quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock valued at $81,000 after buying an additional 1,196 shares during the period.

Frontier Communications Parent Trading Down 0.1%

Shares of Frontier Communications Parent stock traded down $0.05 during trading on Friday, reaching $37.08. 2,604,098 shares of the stock were exchanged, compared to its average volume of 2,594,135. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. The stock's fifty day moving average is $36.73 and its 200 day moving average is $36.32. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of -23.92 and a beta of 0.95. Frontier Communications Parent, Inc. has a 1 year low of $27.95 and a 1 year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted 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 analysts' expectations 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 business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.49) earnings per share. As a group, equities research analysts expect 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.