Gabelli Funds LLC Buys 80,553 Shares of Frontier Communications Parent, Inc. $FYBR

Key Points

• Gabelli Funds LLC increased its stake in Frontier Communications by 14.2% after acquiring 80,553 shares during the first quarter, bringing their total ownership to approximately 649,783 shares valued at $23.3 million.
• Other institutional investors, such as Brooklyn Investment Group and Parallel Advisors LLC, also boosted their holdings in Frontier Communications, with increases of 46.1% and 360.7%, respectively.
• Frontier Communications reported a loss of ($0.49) EPS for the last quarter, falling short of analysts' estimates, although revenue increased by 4.0% year-over-year to $1.54 billion.

Gabelli Funds LLC lifted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 14.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 649,783 shares of the company's stock after acquiring an additional 80,553 shares during the quarter. Gabelli Funds LLC owned 0.26% of Frontier Communications Parent worth $23,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Frontier Communications Parent by 23.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company's stock valued at $334,000 after acquiring an additional 1,755 shares during the last quarter. CSS LLC IL purchased a new stake in Frontier Communications Parent in the fourth quarter worth $392,000. Vanguard Group Inc. increased its position in Frontier Communications Parent by 0.3% in the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock worth $873,364,000 after buying an additional 77,795 shares during the last quarter. Tabor Asset Management LP purchased a new stake in Frontier Communications Parent in the first quarter worth $2,069,000. Finally, Hudson Bay Capital Management LP boosted its holdings in shares of Frontier Communications Parent by 60.6% in the fourth quarter. Hudson Bay Capital Management LP now owns 532,999 shares of the company's stock worth $18,495,000 after acquiring an additional 201,047 shares during the period.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock traded down $0.05 during trading hours 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 firm has a market cap of $9.28 billion, a PE ratio of -23.92 and a beta of 0.95. Frontier Communications Parent, Inc. has a one year low of $27.95 and a one year high of $39.21. The business has a fifty day simple moving average of $36.73 and a 200 day simple moving average of $36.32. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted ($0.49) EPS. Frontier Communications Parent's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

About Frontier Communications Parent

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.