Frontier Communications Parent, Inc. $FYBR is Anchorage Capital Advisors L.P.'s 4th Largest Position

Key Points

• Anchorage Capital Advisors L.P. significantly reduced its stake in Frontier Communications Parent by 93.9%, selling over 1.4 million shares and retaining around 93,562 shares, making it the firm's 4th largest position.
• Frontier Communications Parent reported a quarterly earnings loss of ($0.49) EPS, missing analyst expectations, although revenue increased by 4.0% year-over-year to $1.54 billion, slightly above the consensus estimate.
• The company's stock opened at $37.08 with a market cap of $9.28 billion, experiencing a 52-week low of $27.95 and a high of $39.21.

Anchorage Capital Advisors L.P. reduced its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,562 shares of the company's stock after selling 1,429,725 shares during the quarter. Frontier Communications Parent accounts for 4.5% of Anchorage Capital Advisors L.P.'s holdings, making the stock its 4th largest position. Anchorage Capital Advisors L.P.'s holdings in Frontier Communications Parent were worth $3,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp raised its position in Frontier Communications Parent by 24.9% in the fourth quarter. Northern Trust Corp now owns 2,078,942 shares of the company's stock valued at $72,139,000 after purchasing an additional 413,800 shares during the period. Algert Global LLC raised its position in Frontier Communications Parent by 25.3% in the fourth quarter. Algert Global LLC now owns 127,141 shares of the company's stock valued at $4,412,000 after purchasing an additional 25,681 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Frontier Communications Parent during the fourth quarter worth $970,000. Bank of America Corp DE grew its stake in shares of Frontier Communications Parent by 38.7% in the fourth quarter. Bank of America Corp DE now owns 358,586 shares of the company's stock valued at $12,443,000 after buying an additional 100,099 shares in the last quarter. Finally, Centiva Capital LP raised its holdings in shares of Frontier Communications Parent by 227.5% in the 4th quarter. Centiva Capital LP now owns 514,183 shares of the company's stock valued at $17,842,000 after buying an additional 357,185 shares during the period.

Frontier Communications Parent Trading Up 0.4%

Shares of FYBR stock traded up $0.13 on Friday, hitting $37.26. The stock had a trading volume of 5,829,823 shares, compared to its average volume of 2,868,360. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $9.33 billion, a P/E ratio of -24.04 and a beta of 0.95. Frontier Communications Parent, Inc. has a 1 year low of $33.72 and a 1 year high of $37.26. The company's 50 day moving average price is $36.81 and its 200-day moving average price is $36.37.

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 (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. Frontier Communications Parent's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.49) EPS. Analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.