Virtu Financial LLC Purchases New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• Virtu Financial LLC has acquired a new position in Frontier Communications Parent, purchasing 18,207 shares valued at approximately $653,000 during the first quarter.
• Other institutional investors, including Tudor Investment Corp and Adage Capital Partners, have significantly increased their stakes in Frontier Communications, indicating growing interest in the company.
• Frontier Communications reported an earnings miss with an EPS of ($0.49) for the latest quarter, despite a 4.0% increase in revenue year-over-year, coming in at $1.54 billion.

Virtu Financial LLC purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,207 shares of the company's stock, valued at approximately $653,000.

Several other large investors have also added to or reduced their stakes in FYBR. Tudor Investment Corp ET AL bought a new position in Frontier Communications Parent in the 4th quarter valued at about $114,555,000. Adage Capital Partners GP L.L.C. lifted its position in Frontier Communications Parent by 472.7% in the 4th 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 acquiring an additional 2,599,714 shares in the last quarter. Sona Asset Management US LLC bought a new position in shares of Frontier Communications Parent during the 4th quarter worth approximately $51,179,000. Readystate Asset Management LP bought a new position in shares of Frontier Communications Parent during the 1st quarter worth approximately $50,082,000. Finally, Fort Baker Capital Management LP bought a new position in shares of Frontier Communications Parent during the 4th quarter worth approximately $42,037,000.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $36.98 on Wednesday. Frontier Communications Parent, Inc. has a 52 week low of $27.48 and a 52 week high of $39.21. The company's 50 day moving average price is $36.52 and its two-hundred day moving average price is $36.21. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. The stock has a market cap of $9.26 billion, a P/E ratio of -23.86 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.49) 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 the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned ($0.49) EPS. Frontier Communications Parent's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current 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.

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