Skandinaviska Enskilda Banken AB publ Acquires 35,000 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in Frontier Communications Parent, Inc. by 60.7%, owning 92,700 shares valued at approximately $3.32 million.
• Frontier Communications Parent's stock fell by 0.3% to $36.50, with a market cap of around $9.13 billion and a price-to-earnings ratio of -23.55.
• The company reported a quarterly loss of ($0.49) EPS, which was below analysts' expectations, despite a 4% year-over-year revenue increase.

Skandinaviska Enskilda Banken AB publ grew its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 60.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,700 shares of the company's stock after acquiring an additional 35,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Frontier Communications Parent were worth $3,324,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FYBR. Cetera Investment Advisers raised its stake in Frontier Communications Parent by 5.6% in the first quarter. Cetera Investment Advisers now owns 18,610 shares of the company's stock valued at $667,000 after purchasing an additional 991 shares in the last quarter. Oak Thistle LLC raised its stake in Frontier Communications Parent by 62.7% in the first quarter. Oak Thistle LLC now owns 26,589 shares of the company's stock valued at $953,000 after purchasing an additional 10,250 shares in the last quarter. Readystate Asset Management LP acquired a new position in Frontier Communications Parent in the first quarter valued at about $50,082,000. KLP Kapitalforvaltning AS raised its stake in Frontier Communications Parent by 5.8% during the first quarter. KLP Kapitalforvaltning AS now owns 43,500 shares of the company's stock worth $1,560,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Frontier Communications Parent in the first quarter valued at approximately $911,000.

Frontier Communications Parent Trading Down 0.2%

FYBR stock traded down $0.08 during trading on Friday, hitting $36.67. The company had a trading volume of 894,713 shares, compared to its average volume of 2,931,155. The business has a 50-day moving average of $36.49 and a 200-day moving average of $36.15. Frontier Communications Parent, Inc. has a one year low of $24.43 and a one year high of $39.21. The stock has a market cap of $9.18 billion, a PE ratio of -23.67 and a beta of 0.95. The company has a current ratio of 0.36, a quick ratio of 0.42 and a debt-to-equity ratio of 2.49.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company earned ($0.49) earnings per share. The business's revenue was up 4.0% on a year-over-year basis. Research analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Frontier Communications Parent Company 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.