Gamco Investors INC. ET AL Cuts Holdings in Frontier Communications Parent, Inc. $FYBR

Key Points

• Gamco Investors INC. ET AL reduced its stake in Frontier Communications Parent, Inc. by 42.5%, selling 22,195 shares, leaving them with 30,000 shares valued at approximately $1.08 million.
• Several hedge funds, including Price T Rowe Associates and Northern Trust Corp, have made significant changes to their holdings in Frontier, demonstrating renewed interest among institutional investors.
• Frontier Communications reported a quarterly earnings loss of $0.49 per share, missing estimates, although revenue increased by 4% year-over-year to $1.54 billion.

Gamco Investors INC. ET AL trimmed its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 42.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 30,000 shares of the company's stock after selling 22,195 shares during the period. Gamco Investors INC. ET AL's holdings in Frontier Communications Parent were worth $1,076,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group increased 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 last quarter. Parallel Advisors LLC boosted its position in shares of Frontier Communications Parent by 360.7% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after buying an additional 1,533 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in shares of Frontier Communications Parent in the first quarter valued at $74,000. Lazard Asset Management LLC purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $76,000. Finally, UMB Bank n.a. lifted its stake 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 acquiring an additional 1,196 shares in the last quarter.

Frontier Communications Parent Trading Up 0.2%

NASDAQ FYBR traded up $0.08 during trading on Thursday, hitting $37.15. The stock had a trading volume of 1,476,382 shares, compared to its average volume of 2,893,993. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. The company has a market capitalization of $9.30 billion, a PE ratio of -23.97 and a beta of 0.95. The firm has a 50 day moving average price of $36.78 and a 200 day moving average price of $36.35. Frontier Communications Parent, Inc. has a twelve month low of $33.72 and a twelve month high of $37.23.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations 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 company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.49) EPS. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.