Alberta Investment Management Corp Sells 308,700 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• Alberta Investment Management Corp reduced its stake in Frontier Communications Parent, Inc. by 43.1%, holding 407,800 shares valued at approximately $14.6 million after selling 308,700 shares in the first quarter.
• Frontier Communications Parent reported a loss of ($0.49) earnings per share, missing consensus estimates, while revenue was up 4.0% year-over-year at $1.54 billion.
• The company's stock is currently trading at $36.60, with a twelve-month range between $24.43 and $39.21.

Alberta Investment Management Corp lowered its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 43.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 407,800 shares of the company's stock after selling 308,700 shares during the quarter. Alberta Investment Management Corp owned about 0.16% of Frontier Communications Parent worth $14,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. US Bancorp DE increased its position in Frontier Communications Parent by 5.8% during the first quarter. US Bancorp DE now owns 8,223 shares of the company's stock worth $295,000 after acquiring an additional 450 shares during the period. Alpine Associates Management Inc. increased its position in Frontier Communications Parent by 53.9% during the first quarter. Alpine Associates Management Inc. now owns 1,604,844 shares of the company's stock worth $57,550,000 after acquiring an additional 562,214 shares during the period. Natixis Advisors LLC increased its holdings in Frontier Communications Parent by 25.3% in the 1st quarter. Natixis Advisors LLC now owns 24,210 shares of the company's stock valued at $868,000 after buying an additional 4,886 shares during the period. Bayforest Capital Ltd increased its holdings in Frontier Communications Parent by 208.8% in the 1st quarter. Bayforest Capital Ltd now owns 8,421 shares of the company's stock valued at $302,000 after buying an additional 5,694 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in Frontier Communications Parent by 391.3% in the 1st quarter. GSA Capital Partners LLP now owns 86,807 shares of the company's stock valued at $3,113,000 after buying an additional 69,137 shares during the period.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock traded up $0.08 on Wednesday, hitting $36.67. The company's stock had a trading volume of 697,205 shares, compared to its average volume of 2,914,587. The firm has a market cap of $9.18 billion, a P/E ratio of -23.65 and a beta of 0.95. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. The company has a fifty day moving average price of $36.49 and a 200-day moving average price of $36.18. Frontier Communications Parent, Inc. has a one year low of $27.19 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly 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). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.49) EPS. On average, equities 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.