Hudson Bay Capital Management LP Boosts Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Hudson Bay Capital Management LP grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 60.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 532,999 shares of the company's stock after acquiring an additional 201,047 shares during the period. Hudson Bay Capital Management LP owned about 0.21% of Frontier Communications Parent worth $18,495,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FYBR. New York Life Investment Management LLC acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Frontier Communications Parent during the 4th quarter worth $9,948,000. Raymond James Financial Inc. bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth about $2,065,000. Alpine Associates Management Inc. raised its stake in shares of Frontier Communications Parent by 275.9% in the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock valued at $36,179,000 after purchasing an additional 765,250 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Frontier Communications Parent during the fourth quarter worth about $1,583,000.

Analysts Set New Price Targets

Several analysts have issued reports on FYBR shares. Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of "Hold" and an average price target of $36.07.

Frontier Communications Parent Stock Performance

FYBR opened at $36.53 on Friday. Frontier Communications Parent, Inc. has a twelve month low of $24.43 and a twelve month high of $39.21. The stock has a market cap of $9.14 billion, a PE ratio of -28.32 and a beta of 1.01. The business's 50 day moving average is $36.00 and its 200-day moving average is $35.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

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.

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