Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stake Lifted by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management has increased its stake in Frontier Communications Parent by 27.3%, owning 923,100 shares valued at approximately $33.10 million, making it the fund's 16th largest position.
• In the first quarter, other institutional investors have significantly adjusted their holdings, with Parallel Advisors LLC increasing its stake by 360.7% and Whipplewood Advisors LLC raising its stake by an extraordinary 7,980.6%.
• Frontier Communications reported a quarterly EPS of (-$0.49), missing expectations, but experienced a 4% increase in revenue year-over-year.

Picton Mahoney Asset Management lifted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 923,100 shares of the company's stock after buying an additional 198,100 shares during the period. Frontier Communications Parent makes up approximately 0.6% of Picton Mahoney Asset Management's holdings, making the stock its 16th largest position. Picton Mahoney Asset Management owned approximately 0.37% of Frontier Communications Parent worth $33,103,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FYBR. Parallel Advisors LLC grew its stake in Frontier Communications Parent by 360.7% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after acquiring an additional 1,533 shares during the period. Lazard Asset Management LLC purchased a new stake in Frontier Communications Parent during the 4th quarter worth $76,000. UMB Bank n.a. boosted its position in Frontier Communications Parent by 113.9% during the 1st quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock worth $81,000 after purchasing an additional 1,196 shares during the period. Fifth Third Bancorp lifted its holdings in Frontier Communications Parent by 15.4% in the 1st quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock worth $87,000 after buying an additional 323 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its holdings in Frontier Communications Parent by 7,980.6% in the 1st quarter. Whipplewood Advisors LLC now owns 2,505 shares of the company's stock worth $90,000 after buying an additional 2,474 shares in the last quarter.

Frontier Communications Parent Stock Down 0.4%

Shares of Frontier Communications Parent stock traded down $0.15 during trading on Friday, reaching $36.60. The company had a trading volume of 1,122,167 shares, compared to its average volume of 2,932,661. The company has a market cap of $9.16 billion, a price-to-earnings ratio of -23.60 and a beta of 0.95. The firm's fifty day moving average is $36.49 and its 200-day moving average is $36.15. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.42 and a current ratio of 0.36. Frontier Communications Parent, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.49) EPS. On average, analysts anticipate 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.