GABELLI & Co INVESTMENT ADVISERS INC. Grows Position in Frontier Communications Parent, Inc. $FYBR

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 holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 588,700 shares of the company's stock after buying an additional 59,600 shares during the quarter. Frontier Communications Parent accounts for about 3.2% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 4th largest position. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.24% of Frontier Communications Parent worth $21,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew 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 buying an additional 359 shares during the last quarter. Parallel Advisors LLC grew 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 buying an additional 1,533 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Frontier Communications Parent in the 1st quarter valued at approximately $74,000. Lazard Asset Management LLC acquired a new stake in Frontier Communications Parent in the 4th quarter valued at approximately $76,000. Finally, UMB Bank n.a. grew 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 buying an additional 1,196 shares during the last quarter.

Frontier Communications Parent Stock Performance

FYBR traded down $0.05 during midday trading on Friday, reaching $37.08. The company's stock had a trading volume of 2,604,098 shares, compared to its average volume of 2,594,135. The stock has a market cap of $9.28 billion, a P/E ratio of -23.92 and a beta of 0.95. The company has a fifty day simple moving average of $36.73 and a 200 day simple moving average of $36.32. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a twelve month low of $27.95 and a twelve month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released 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 business 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned ($0.49) EPS. Research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.