Pentwater Capital Management LP Takes $161.37 Million Position in Frontier Communications Parent, Inc. $FYBR

Key Points

• Pentwater Capital Management LP acquired 4.5 million shares of Frontier Communications Parent, Inc. (NASDAQ: FYBR) in Q1, valued at approximately $161.37 million, making it the firm's seventh largest position.
• Frontier Communications reported a quarterly earnings loss of ($0.49) EPS, missing estimates and showing a 4% revenue increase year-over-year despite a negative net margin of 6.40%.
• The company's stock opened at $37.26 and has a market cap of $9.33 billion, with a significant debt-to-equity ratio of 2.49.

Pentwater Capital Management LP purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,500,000 shares of the company's stock, valued at approximately $161,370,000. Frontier Communications Parent makes up approximately 1.4% of Pentwater Capital Management LP's portfolio, making the stock its 7th biggest position. Pentwater Capital Management LP owned about 1.80% of Frontier Communications Parent as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Millennium Management LLC increased its stake in Frontier Communications Parent by 56.2% during the 1st quarter. Millennium Management LLC now owns 4,487,109 shares of the company's stock valued at $160,908,000 after purchasing an additional 1,615,356 shares in the last quarter. Sona Asset Management US LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at approximately $51,179,000. Readystate Asset Management LP bought a new stake in shares of Frontier Communications Parent during the first quarter valued at approximately $50,082,000. Adage Capital Partners GP L.L.C. increased its position in shares of Frontier Communications Parent by 39.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 4,378,238 shares of the company's stock valued at $157,004,000 after acquiring an additional 1,228,524 shares in the last quarter. Finally, Fort Baker Capital Management LP purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $42,037,000.

Frontier Communications Parent Stock Up 0.4%

FYBR stock traded up $0.14 during midday trading on Thursday, hitting $37.49. The company's stock had a trading volume of 4,771,204 shares, compared to its average volume of 2,980,914. The firm's 50-day moving average is $36.86 and its 200-day moving average is $36.40. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a 12 month low of $33.72 and a 12 month high of $37.50. The company has a market cap of $9.38 billion, a PE ratio of -24.19 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 the consensus estimate of ($0.31) by ($0.18). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the firm earned ($0.49) EPS. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.