Frontier Communications Parent, Inc. $FYBR is Westchester Capital Management LLC's 9th Largest Position

Key Points

• Westchester Capital Management LLC has increased its stake in Frontier Communications Parent, Inc. by 43.2%, owning 1,246,804 shares after purchasing an additional 375,981 shares.
• Other investors, including Brooklyn Investment Group and Parallel Advisors LLC, have also significantly boosted their stakes in Frontier Communications during the same period.
• Despite a 4.0% year-over-year revenue increase, Frontier reported an EPS of ($0.49), missing analyst expectations of ($0.31).

Westchester Capital Management LLC increased its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 43.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,804 shares of the company's stock after purchasing an additional 375,981 shares during the period. Frontier Communications Parent accounts for 2.3% of Westchester Capital Management LLC's portfolio, making the stock its 9th largest holding. Westchester Capital Management LLC owned 0.50% of Frontier Communications Parent worth $44,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Groupe la Francaise bought a new stake in Frontier Communications Parent in the 1st quarter valued at $4,726,000. AlphaQuest LLC increased its holdings in Frontier Communications Parent by 1,779.9% in the 1st quarter. AlphaQuest LLC now owns 19,833 shares of the company's stock valued at $711,000 after acquiring an additional 18,778 shares during the last quarter. Compound Planning Inc. bought a new stake in Frontier Communications Parent in the 1st quarter valued at $218,000. 1832 Asset Management L.P. bought a new stake in Frontier Communications Parent in the 1st quarter valued at $1,022,000. Finally, Carmignac Gestion bought a new stake in shares of Frontier Communications Parent in the 1st quarter worth about $1,237,000.

Frontier Communications Parent Price Performance

Shares of Frontier Communications Parent stock traded down $0.05 during trading hours on Friday, reaching $37.08. The company's stock had a trading volume of 2,604,098 shares, compared to its average volume of 2,594,135. The firm has a 50 day moving average price of $36.73 and a 200-day moving average price of $36.32. Frontier Communications Parent, Inc. has a one year low of $27.95 and a one year high of $39.21. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $9.28 billion, a P/E ratio of -23.92 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) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.52 billion. During the same quarter last year, the firm earned ($0.49) earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.