Frontier Communications Parent, Inc. $FYBR Shares Bought by GABELLI & Co INVESTMENT ADVISERS INC.

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Frontier Communications Parent by 11.3%, now owning 588,700 shares, which represents about 3.2% of their portfolio.
• Frontier Communications reported a loss of $0.49 EPS for the last quarter, missing analyst estimates, despite generating revenues of $1.54 billion, which was slightly above expectations.
• The company's stock opened at $36.91 and has a market capitalization of $9.24 billion, having a recent 52-week range between $27.95 and $39.21.

GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 588,700 shares of the company's stock after purchasing an additional 59,600 shares during the period. Frontier Communications Parent makes up approximately 3.2% of GABELLI & Co INVESTMENT ADVISERS INC.'s holdings, making the stock its 4th biggest position. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.24% of Frontier Communications Parent worth $21,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FYBR. Brooklyn Investment Group boosted its holdings in Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after purchasing an additional 359 shares during the period. Parallel Advisors LLC boosted its holdings in Frontier Communications Parent by 360.7% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock valued at $70,000 after purchasing an additional 1,533 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in Frontier Communications Parent in the 1st quarter valued at $74,000. Lazard Asset Management LLC bought a new stake in Frontier Communications Parent in the 4th quarter valued at $76,000. Finally, UMB Bank n.a. boosted its holdings in Frontier Communications Parent by 113.9% in the 1st quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock valued at $81,000 after purchasing an additional 1,196 shares during the period.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock traded down $0.05 during mid-day trading on Friday, reaching $37.08. The company had a trading volume of 2,604,098 shares, compared to its average volume of 2,594,135. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a 52 week low of $27.95 and a 52 week high of $39.21. The company has a 50 day moving average of $36.73 and a 200-day moving average of $36.32. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of -23.92 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data 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). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company posted ($0.49) EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS 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.