Victory Capital Management Inc. Cuts Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Victory Capital Management Inc. lowered its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 31.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,593 shares of the company's stock after selling 17,901 shares during the period. Victory Capital Management Inc.'s holdings in Frontier Communications Parent were worth $1,420,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in Frontier Communications Parent during the fourth quarter valued at about $114,555,000. Adage Capital Partners GP L.L.C. grew its holdings in Frontier Communications Parent by 472.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock valued at $109,295,000 after purchasing an additional 2,599,714 shares during the period. Sona Asset Management US LLC bought a new stake in Frontier Communications Parent during the fourth quarter valued at about $51,179,000. FIL Ltd bought a new stake in Frontier Communications Parent during the fourth quarter valued at about $49,228,000. Finally, Alliancebernstein L.P. grew its holdings in Frontier Communications Parent by 411.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock valued at $54,145,000 after purchasing an additional 1,255,180 shares during the period.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded down $0.14 during mid-day trading on Friday, hitting $36.60. 2,290,406 shares of the company traded hands, compared to its average volume of 2,941,090. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of -23.61 and a beta of 0.95. The company has a quick ratio of 0.42, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. The stock's fifty day moving average price is $36.49 and its 200-day moving average price is $36.15. Frontier Communications Parent, Inc. has a one year low of $24.43 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.54 billion during the quarter, compared to the consensus estimate 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 business's revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned ($0.49) EPS. Research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.