Huber Capital Management LLC Raises Stock Position in Frontier Communications Parent, Inc. $FYBR

Key Points

• Huber Capital Management LLC significantly increased its stake in Frontier Communications, buying 138,100 shares to lift its ownership by 771.5%, totaling 156,000 shares.
• Frontier Communications reported a quarterly revenue of $1.54 billion, marking a 4.0% increase compared to the previous year, despite missing earnings expectations.
• The company's stock price recently opened at $37.04, with a 52-week range between $27.95 and $39.21.

Huber Capital Management LLC boosted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 771.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,000 shares of the company's stock after buying an additional 138,100 shares during the quarter. Frontier Communications Parent makes up about 1.1% of Huber Capital Management LLC's holdings, making the stock its 28th largest position. Huber Capital Management LLC owned 0.06% of Frontier Communications Parent worth $5,594,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Frontier Communications Parent by 23.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company's stock valued at $334,000 after buying an additional 1,755 shares during the last quarter. CSS LLC IL acquired a new position in Frontier Communications Parent in the fourth quarter valued at $392,000. Vanguard Group Inc. boosted its stake 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 valued at $873,364,000 after acquiring an additional 77,795 shares in the last quarter. Tabor Asset Management LP acquired a new position in Frontier Communications Parent in the first quarter valued at $2,069,000. Finally, Hudson Bay Capital Management LP boosted its stake in 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 valued at $18,495,000 after acquiring an additional 201,047 shares in the last quarter.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded down $0.05 during trading hours on Monday, hitting $37.08. The company had a trading volume of 2,604,098 shares, compared to its average volume of 2,609,819. Frontier Communications Parent, Inc. has a 1-year low of $27.95 and a 1-year high of $39.21. The company has a market cap of $9.28 billion, a PE ratio of -23.92 and a beta of 0.95. The business has a 50 day moving average of $36.73 and a 200-day moving average of $36.33. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.Frontier Communications Parent's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.49) EPS. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.