Frontier Communications Parent, Inc. $FYBR Shares Bought by Woodline Partners LP

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 Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 49.2% during the first quarter, according to 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 purchasing an additional 442,946 shares during the period. 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).

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group raised its position in Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after purchasing an additional 359 shares in the last quarter. Parallel Advisors LLC raised its position in Frontier Communications Parent by 360.7% in the 1st 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 acquired a new stake in Frontier Communications Parent in the 1st quarter valued at about $74,000. Lazard Asset Management LLC acquired a new stake in Frontier Communications Parent in the 4th quarter valued at about $76,000. Finally, UMB Bank n.a. raised its position in Frontier Communications Parent by 113.9% in the 1st 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 Stock Up 0.1%

Shares of NASDAQ FYBR traded up $0.04 during midday trading on Friday, hitting $37.53. 2,827,463 shares of the company's stock were exchanged, compared to its average volume of 3,183,210. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. Frontier Communications Parent, Inc. has a twelve month low of $33.72 and a twelve month high of $37.56. The company has a market cap of $9.39 billion, a PE ratio of -24.21 and a beta of 0.95. The firm's fifty day simple moving average is $36.90 and its 200-day simple moving average is $36.42.

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). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the business posted ($0.49) EPS. Frontier Communications Parent's revenue was up 4.0% on a year-over-year basis. Research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS 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.