Dimensional Fund Advisors LP Cuts Stock Position in Frontier Communications Parent, Inc. $FYBR

Key Points

• Dimensional Fund Advisors LP reduced its holdings in Frontier Communications Parent by 28.8%, selling over 2.4 million shares and now owns about 5.9 million shares valued at $213 million.
• Other hedge funds like Parallel Advisors and UMB Bank made significant adjustments to their positions, with Parallel Advisors increasing its stake by 360.7%.
• For the recent quarter, Frontier reported ($0.49) EPS, missing estimates, and a revenue of $1.54 billion, which was slightly above expectations.

Dimensional Fund Advisors LP decreased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 28.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,943,265 shares of the company's stock after selling 2,406,082 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.37% of Frontier Communications Parent worth $213,126,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FYBR. Mariner LLC increased its position in Frontier Communications Parent by 0.8% in the fourth quarter. Mariner LLC now owns 37,731 shares of the company's stock worth $1,309,000 after buying an additional 301 shares in the last quarter. Jag Capital Management LLC grew its position in shares of Frontier Communications Parent by 3.9% during the first quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock worth $298,000 after purchasing an additional 311 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Frontier Communications Parent by 15.4% during the first quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock worth $87,000 after purchasing an additional 323 shares in the last quarter. Xponance Inc. grew its position in shares of Frontier Communications Parent by 1.3% during the first quarter. Xponance Inc. now owns 26,712 shares of the company's stock worth $958,000 after purchasing an additional 333 shares in the last quarter. Finally, Vident Advisory LLC grew its position in shares of Frontier Communications Parent by 3.8% during the fourth quarter. Vident Advisory LLC now owns 10,726 shares of the company's stock worth $372,000 after purchasing an additional 390 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR traded up $0.05 during trading on Friday, hitting $36.94. 2,003,399 shares of the company's stock were exchanged, compared to its average volume of 2,846,230. 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 52-week low of $27.88 and a 52-week high of $39.21. The business's 50-day simple moving average is $36.65 and its 200 day simple moving average is $36.28. The company has a market cap of $9.25 billion, a price-to-earnings ratio of -23.83 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results 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). 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 analysts' expectations of $1.52 billion. During the same quarter in the prior year, the business posted ($0.49) EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts predict 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.