Frontier Communications Parent, Inc. $FYBR is Aristeia Capital L.L.C.'s 10th Largest Position

Key Points

• Aristeia Capital L.L.C. has increased its stake in Frontier Communications Parent by 9.8%, owning a total of 2,198,822 shares, which constitutes about 2.0% of its total holdings.
• Several hedge funds, including Vanguard Group and Goldman Sachs, have also raised their stakes in Frontier Communications, with Goldman Sachs increasing its holdings by 129.1%.
• In its latest quarterly earnings, Frontier Communications reported a loss of ($0.49) per share, falling short of analysts' expectations, despite generating $1.54 billion in revenue for the quarter.

Aristeia Capital L.L.C. increased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 9.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,198,822 shares of the company's stock after purchasing an additional 197,034 shares during the period. Frontier Communications Parent makes up about 2.0% of Aristeia Capital L.L.C.'s investment portfolio, making the stock its 10th largest position. Aristeia Capital L.L.C. owned about 0.88% of Frontier Communications Parent worth $78,850,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FYBR. BNP Paribas Financial Markets bought a new stake in Frontier Communications Parent in the fourth quarter worth $970,000. Bank of America Corp DE increased its position in Frontier Communications Parent by 38.7% during the fourth quarter. Bank of America Corp DE now owns 358,586 shares of the company's stock valued at $12,443,000 after acquiring an additional 100,099 shares during the last quarter. Ethic Inc. increased its position in Frontier Communications Parent by 74.3% during the fourth quarter. Ethic Inc. now owns 25,535 shares of the company's stock valued at $886,000 after acquiring an additional 10,885 shares during the last quarter. Hudson Bay Capital Management LP increased its position in Frontier Communications Parent by 60.6% during the fourth quarter. Hudson Bay Capital Management LP now owns 532,999 shares of the company's stock valued at $18,495,000 after acquiring an additional 201,047 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new position in Frontier Communications Parent during the fourth quarter valued at $2,466,000.

Frontier Communications Parent Trading Up 0.1%

FYBR stock traded up $0.04 during mid-day trading on Friday, reaching $37.53. 2,827,463 shares of the stock traded hands, compared to its average volume of 3,183,210. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36. Frontier Communications Parent, Inc. has a one year low of $33.72 and a one year high of $37.56. The stock has a market capitalization of $9.39 billion, a PE ratio of -24.21 and a beta of 0.95. The business has a 50-day moving average price of $36.90 and a two-hundred day moving average price of $36.42.

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 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 firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned ($0.49) EPS. The company's revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.