Invesco Ltd. Decreases Stake in Frontier Communications Parent, Inc. $FYBR

Key Points

• Invesco Ltd. has decreased its stake in Frontier Communications Parent, Inc. by 6.5%, now owning 615,798 shares, valued at approximately $22 million.
• Other institutional investors have also adjusted their holdings, with Citigroup Inc. increasing its position by 53.2% to own 345,066 shares.
• Frontier Communications recently reported a quarterly earnings loss of ($0.49) EPS, missing the consensus estimate, despite revenue increasing to $1.54 billion.

Invesco Ltd. reduced its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 615,798 shares of the company's stock after selling 42,633 shares during the quarter. Invesco Ltd. owned about 0.25% of Frontier Communications Parent worth $22,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Townsquare Capital LLC purchased a new position in shares of Frontier Communications Parent in the 1st quarter valued at approximately $346,000. Citigroup Inc. raised its position in shares of Frontier Communications Parent by 53.2% in the 1st quarter. Citigroup Inc. now owns 345,066 shares of the company's stock valued at $12,374,000 after purchasing an additional 119,834 shares during the last quarter. Swiss National Bank raised its position in shares of Frontier Communications Parent by 4.7% in the 1st quarter. Swiss National Bank now owns 410,100 shares of the company's stock valued at $14,706,000 after purchasing an additional 18,300 shares during the last quarter. Deutsche Bank AG raised its position in shares of Frontier Communications Parent by 7.5% in the 1st quarter. Deutsche Bank AG now owns 13,733 shares of the company's stock valued at $492,000 after purchasing an additional 963 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Frontier Communications Parent by 821.2% in the 1st quarter. Headlands Technologies LLC now owns 122,127 shares of the company's stock valued at $4,379,000 after purchasing an additional 108,869 shares during the last quarter.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $36.95 on Thursday. The firm has a market capitalization of $9.25 billion, a P/E ratio of -23.84 and a beta of 0.95. 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 50 day moving average price of $36.62 and a 200 day moving average price of $36.26. Frontier Communications Parent, Inc. has a 52 week low of $27.67 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced 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). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the business earned ($0.49) earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS 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.

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