Frontier Communications Parent, Inc. $FYBR Shares Sold by Maven Securities LTD

Key Points

• Maven Securities LTD dramatically reduced its stake in Frontier Communications Parent, Inc. by selling 174,500 shares, resulting in an 87% decrease in ownership to 26,000 shares valued at $932,000.
• Other institutional investors, including Brooklyn Investment Group and Parallel Advisors LLC, have either increased their stakes significantly or initiated new positions in Frontier Communications during the first quarter.
• Frontier Communications reported a net loss of $0.49 earnings per share in its latest quarterly earnings, missing the consensus estimate and showing a negative net margin of 6.40% despite a revenue increase of 4% year-over-year.

Maven Securities LTD lowered its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 87.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,000 shares of the company's stock after selling 174,500 shares during the quarter. Maven Securities LTD's holdings in Frontier Communications Parent were worth $932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FYBR. 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 worth $41,000 after buying an additional 359 shares during the period. Parallel Advisors LLC increased its holdings in Frontier Communications Parent by 360.7% in the 1st 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 position in Frontier Communications Parent in the 1st quarter worth approximately $74,000. Lazard Asset Management LLC acquired a new position in Frontier Communications Parent in the 4th quarter worth approximately $76,000. Finally, UMB Bank n.a. increased its holdings in Frontier Communications Parent by 113.9% in the 1st quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock worth $81,000 after buying an additional 1,196 shares during the period.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded down $0.0050 during midday trading on Monday, hitting $36.9350. The company's stock had a trading volume of 153,896 shares, compared to its average volume of 2,905,165. The firm's 50 day moving average is $36.65 and its 200-day moving average is $36.28. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $9.25 billion, a P/E ratio of -23.82 and a beta of 0.95. Frontier Communications Parent, Inc. has a fifty-two week low of $27.95 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly 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 company had revenue of $1.54 billion for 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 firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.49) earnings per share. Equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.