Bank of Nova Scotia Decreases Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• Bank of Nova Scotia reduced its holdings in Frontier Communications Parent, Inc. by 86.5%, selling over 56,000 shares and ending the quarter with 8,885 shares valued at $319,000.
• Frontier Communications reported a loss of ($0.49) earnings per share for the last quarter, missing analysts' estimates, despite a 4.0% increase in revenue year-over-year to $1.54 billion.
• As of the latest data, Frontier Communications has a debt-to-equity ratio of 2.49 and is trading near its fifty-day moving average of $36.50.

Bank of Nova Scotia trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 86.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,885 shares of the company's stock after selling 56,813 shares during the period. Bank of Nova Scotia's holdings in Frontier Communications Parent were worth $319,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in shares of Frontier Communications Parent during the 4th quarter valued at approximately $114,555,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Frontier Communications Parent by 472.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock worth $109,295,000 after purchasing an additional 2,599,714 shares in the last quarter. Northern Trust Corp grew its stake in shares of Frontier Communications Parent by 24.9% during the fourth quarter. Northern Trust Corp now owns 2,078,942 shares of the company's stock worth $72,139,000 after purchasing an additional 413,800 shares in the last quarter. Aristeia Capital L.L.C. boosted its stake in Frontier Communications Parent by 152.4% in the fourth quarter. Aristeia Capital L.L.C. now owns 2,001,788 shares of the company's stock valued at $69,462,000 after acquiring an additional 1,208,699 shares in the last quarter. Finally, Alpine Associates Management Inc. boosted its stake in Frontier Communications Parent by 53.9% in the first quarter. Alpine Associates Management Inc. now owns 1,604,844 shares of the company's stock valued at $57,550,000 after acquiring an additional 562,214 shares in the last quarter.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR traded down $0.09 on Friday, reaching $36.58. The company's stock had a trading volume of 1,710,610 shares, compared to its average volume of 2,647,559. The stock's 50-day moving average is $36.50 and its two-hundred day moving average is $36.20. Frontier Communications Parent, Inc. has a 52-week low of $27.19 and a 52-week high of $39.21. 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 stock has a market capitalization of $9.16 billion, a P/E ratio of -23.60 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted 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 firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.49) earnings per share. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.