LMR Partners LLP Acquires 923,056 Shares of Frontier Communications Parent, Inc. $FYBR

LMR Partners LLP increased its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 79.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,081,181 shares of the company’s stock after buying an additional 923,056 shares during the quarter. Frontier Communications Parent makes up about 0.5% of LMR Partners LLP’s portfolio, making the stock its 13th largest position. LMR Partners LLP’s holdings in Frontier Communications Parent were worth $75,755,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FYBR. Geneos Wealth Management Inc. grew its holdings in Frontier Communications Parent by 957.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 772 shares of the company’s stock valued at $28,000 after buying an additional 699 shares in the last quarter. Brooklyn Investment Group grew its stake in Frontier Communications Parent by 46.1% during the first quarter. Brooklyn Investment Group now owns 1,137 shares of the company’s stock valued at $41,000 after acquiring an additional 359 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Frontier Communications Parent by 178.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,515 shares of the company’s stock worth $92,000 after acquiring an additional 1,613 shares during the period. Longfellow Investment Management Co. LLC lifted its stake in Frontier Communications Parent by 49.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 3,096 shares of the company’s stock worth $113,000 after purchasing an additional 1,028 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Frontier Communications Parent by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,921 shares of the company’s stock valued at $143,000 after purchasing an additional 898 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a research report on Thursday. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Frontier Communications Parent has a consensus rating of “Reduce”.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $38.03 on Friday. Frontier Communications Parent, Inc. has a 52-week low of $34.60 and a 52-week high of $38.05. The company has a fifty day moving average of $37.74 and a 200-day moving average of $37.12. The company has a market capitalization of $9.52 billion, a P/E ratio of -25.02 and a beta of 0.94. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the business posted ($0.33) earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Frontier Communications Parent 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.