Magnetar Financial LLC Has $77.81 Million Holdings in Frontier Communications Parent, Inc. $FYBR

Key Points

• Magnetar Financial LLC increased its investment in Frontier Communications Parent, Inc. by 19.7% during the first quarter, now holding 2,169,931 shares valued at approximately $77.81 million.
• Several other institutional investors have also made significant investments in Frontier Communications, with notable entries from Sona Asset Management and Readystate Asset Management in the fourth quarter, valued at approximately $51 million and $50 million, respectively.
• Frontier Communications reported a net loss of $0.49 per share for the last quarter, missing expectations, though revenue increased by 4% year-over-year, totaling $1.54 billion.

Magnetar Financial LLC increased its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 19.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,169,931 shares of the company's stock after acquiring an additional 356,488 shares during the quarter. Frontier Communications Parent makes up 1.0% of Magnetar Financial LLC's holdings, making the stock its 12th largest holding. Magnetar Financial LLC owned about 0.87% of Frontier Communications Parent worth $77,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of FYBR. Huber Capital Management LLC increased its stake in Frontier Communications Parent by 771.5% in the 1st quarter. Huber Capital Management LLC now owns 156,000 shares of the company's stock worth $5,594,000 after purchasing an additional 138,100 shares in the last quarter. Eisler Capital Management Ltd. purchased a new position in shares of Frontier Communications Parent in the first quarter worth approximately $6,459,000. Ieq Capital LLC acquired a new stake in shares of Frontier Communications Parent during the first quarter valued at approximately $411,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Frontier Communications Parent by 11.3% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 588,700 shares of the company's stock worth $21,111,000 after buying an additional 59,600 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Frontier Communications Parent by 14.2% during the 1st quarter. Gabelli Funds LLC now owns 649,783 shares of the company's stock valued at $23,301,000 after acquiring an additional 80,553 shares in the last quarter.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR remained flat at $37.08 during midday trading on Tuesday. The company had a trading volume of 3,336,348 shares, compared to its average volume of 2,903,551. The stock's 50-day moving average is $36.75 and its two-hundred day moving average is $36.34. The company has a quick ratio of 0.36, a current 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. The company has a market cap of $9.28 billion, a P/E ratio of -23.92 and a beta of 0.95.

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