Frontier Communications Parent, Inc. $FYBR Shares Bought by Slotnik Capital LLC

Key Points

• Slotnik Capital LLC increased its stake in Frontier Communications Parent by 14.8%, owning 1,166,000 shares after purchasing an additional 149,965 shares in the first quarter.
• Frontier Communications Parent reported an earnings per share (EPS) of ($0.49), missing analysts' expectations of ($0.31), despite revenue increasing by 4.0% from the previous year.
• The company's market capitalization stands at $9.34 billion with a current share price of $37.30, marking a slight increase of 0.1%.

Slotnik Capital LLC boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 14.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,166,000 shares of the company's stock after purchasing an additional 149,965 shares during the period. Frontier Communications Parent comprises about 20.2% of Slotnik Capital LLC's investment portfolio, making the stock its biggest position. Slotnik Capital LLC owned 0.47% of Frontier Communications Parent worth $41,813,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Frontier Communications Parent by 23.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company's stock valued at $334,000 after purchasing an additional 1,755 shares during the last quarter. CSS LLC IL bought a new position in Frontier Communications Parent during the 4th quarter valued at about $392,000. Vanguard Group Inc. lifted its holdings in Frontier Communications Parent by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock valued at $873,364,000 after purchasing an additional 77,795 shares during the last quarter. Tabor Asset Management LP acquired a new stake in Frontier Communications Parent in the 1st quarter valued at about $2,069,000. Finally, BNP Paribas Financial Markets acquired a new stake in Frontier Communications Parent in the 4th quarter valued at about $970,000.

Frontier Communications Parent Price Performance

FYBR traded up $0.04 during midday trading on Friday, hitting $37.53. The company had a trading volume of 2,827,463 shares, compared to its average volume of 3,183,210. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $9.39 billion, a PE ratio of -24.21 and a beta of 0.95. Frontier Communications Parent, Inc. has a twelve month low of $33.72 and a twelve month high of $37.56. The firm's 50-day simple moving average is $36.90 and its 200-day simple moving average is $36.42.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 company's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.49) EPS. Equities research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS 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.