Woodline Partners LP Buys 442,946 Shares of Frontier Communications Parent, Inc. $FYBR

Key Points

• Woodline Partners LP increased its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 49.2%, acquiring an additional 442,946 shares to total 1,342,946 shares, worth approximately $48 million.
• Frontier Communications reported quarterly earnings of ($0.49) per share, falling short of analysts' estimates of ($0.31), while revenue increased by 4.0% year-over-year to $1.54 billion.
• The company has a market cap of $9.34 billion, a P/E ratio of -24.06, and is currently trading around $37.30.

Woodline Partners LP raised its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 49.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,342,946 shares of the company's stock after buying an additional 442,946 shares during the quarter. Woodline Partners LP owned about 0.54% of Frontier Communications Parent worth $48,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FYBR. Brooklyn Investment Group grew its holdings in Frontier Communications Parent by 46.1% during the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after buying an additional 359 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Frontier Communications Parent by 360.7% in the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock valued at $70,000 after purchasing an additional 1,533 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Frontier Communications Parent in the first quarter valued at $74,000. Lazard Asset Management LLC purchased a new position in shares of Frontier Communications Parent in the fourth quarter valued at $76,000. Finally, UMB Bank n.a. grew its holdings in shares of Frontier Communications Parent by 113.9% in the first quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock valued at $81,000 after purchasing an additional 1,196 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR stock traded up $0.04 on Friday, reaching $37.53. The company's stock had a trading volume of 2,827,463 shares, compared to its average volume of 3,183,210. The stock's fifty day simple moving average is $36.90 and its 200-day simple moving average is $36.42. Frontier Communications Parent, Inc. has a 1 year low of $33.72 and a 1 year high of $37.56. 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 $9.39 billion, a price-to-earnings ratio of -24.21 and a beta of 0.95.

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). 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 period last year, the business posted ($0.49) earnings per share. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.