Vazirani Asset Management LLC Invests $3.06 Million in Frontier Communications Parent, Inc. $FYBR

Key Points

• Vazirani Asset Management LLC has acquired a new stake in Frontier Communications Parent, Inc. ($FYBR), purchasing 85,453 shares valued at approximately $3.06 million, which now comprises around 11.3% of its investment portfolio.
• Frontier Communications reported a loss per share of ($0.49) in its latest quarterly earnings, missing analysts' expectations, despite seeing a 4% year-over-year revenue increase to $1.54 billion.
• The company's stock is currently trading around $37.08 with a market capitalization of $9.28 billion, showing a 1-year price range between $27.95 and $39.21.

Vazirani Asset Management LLC acquired a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 85,453 shares of the company's stock, valued at approximately $3,064,000. Frontier Communications Parent comprises 11.3% of Vazirani Asset Management LLC's holdings, making the stock its 5th biggest position.

A number of other hedge funds also recently made changes to their positions in the business. Jag Capital Management LLC grew its holdings in Frontier Communications Parent by 3.9% during the first quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock worth $298,000 after acquiring an additional 311 shares during the period. Fifth Third Bancorp increased its holdings in Frontier Communications Parent by 15.4% in the first quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock worth $87,000 after buying an additional 323 shares during the last quarter. Xponance Inc. boosted its stake in shares of Frontier Communications Parent by 1.3% during the 1st quarter. Xponance Inc. now owns 26,712 shares of the company's stock worth $958,000 after acquiring an additional 333 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Frontier Communications Parent by 46.1% in the first quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock worth $41,000 after purchasing an additional 359 shares during the period. Finally, Vident Advisory LLC raised its stake in Frontier Communications Parent by 3.8% during the 4th quarter. Vident Advisory LLC now owns 10,726 shares of the company's stock valued at $372,000 after purchasing an additional 390 shares during the last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR traded down $0.01 during mid-day trading on Wednesday, reaching $37.07. The company had a trading volume of 3,024,018 shares, compared to its average volume of 2,519,086. 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 twelve month low of $28.07 and a twelve month high of $39.21. The company's 50-day moving average is $36.76 and its 200-day moving average is $36.34.

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 (EPS) 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 firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company posted ($0.49) EPS. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS 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.