Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Frontier Communications Parent by 14.7%, acquiring 7,074 shares, which brought their total ownership to 55,299 shares valued at approximately $1.98 million.
• Frontier Communications Parent's stock price is currently around $36.60, with a market capitalization of roughly $9.16 billion, and the company reported earnings of ($0.49) per share for the latest quarter, missing analyst estimates.
• Other institutional investors have also adjusted their positions in Frontier Communications, with several funds increasing their holdings in shares during the same period, reflecting ongoing interest in the company's stock.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,299 shares of the company's stock after buying an additional 7,074 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Frontier Communications Parent were worth $1,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new position in Frontier Communications Parent during the 4th quarter valued at about $114,555,000. Adage Capital Partners GP L.L.C. boosted its stake 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 worth $109,295,000 after purchasing an additional 2,599,714 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Frontier Communications Parent by 24.9% during the 4th quarter. Northern Trust Corp now owns 2,078,942 shares of the company's stock valued at $72,139,000 after purchasing an additional 413,800 shares in the last quarter. Aristeia Capital L.L.C. increased its holdings in shares of Frontier Communications Parent by 152.4% during the 4th quarter. Aristeia Capital L.L.C. now owns 2,001,788 shares of the company's stock valued at $69,462,000 after purchasing an additional 1,208,699 shares in the last quarter. Finally, Quinn Opportunity Partners LLC increased its holdings in Frontier Communications Parent by 19.0% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,569,519 shares of the company's stock worth $54,462,000 after acquiring an additional 250,050 shares in the last quarter.

Frontier Communications Parent Trading Up 0.2%

Shares of FYBR stock traded up $0.06 on Wednesday, hitting $36.65. 474,532 shares of the stock traded hands, compared to its average volume of 2,914,151. The stock has a market capitalization of $9.17 billion, a PE ratio of -23.64 and a beta of 0.95. Frontier Communications Parent, Inc. has a twelve month low of $27.19 and a twelve month high of $39.21. The firm's 50-day moving average price is $36.49 and its two-hundred day moving average price is $36.18. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.49) earnings per share. As a group, analysts anticipate 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.