Alpine Associates Management Inc. Acquires 258,386 Shares of Frontier Communications Parent, Inc. $FYBR

Alpine Associates Management Inc. boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 16.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,863,230 shares of the company’s stock after purchasing an additional 258,386 shares during the period. Frontier Communications Parent comprises 3.6% of Alpine Associates Management Inc.’s holdings, making the stock its 7th largest position. Alpine Associates Management Inc.’s holdings in Frontier Communications Parent were worth $67,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Frontier Communications Parent by 23.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company’s stock valued at $334,000 after buying an additional 1,755 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Frontier Communications Parent by 0.3% during the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company’s stock worth $873,364,000 after purchasing an additional 77,795 shares during the period. Tabor Asset Management LP acquired a new stake in Frontier Communications Parent during the 1st quarter worth approximately $2,069,000. AQR Capital Management LLC boosted its stake in Frontier Communications Parent by 274.3% in the 1st quarter. AQR Capital Management LLC now owns 144,982 shares of the company’s stock valued at $5,199,000 after purchasing an additional 106,245 shares during the period. Finally, HighTower Advisors LLC acquired a new position in Frontier Communications Parent in the 1st quarter valued at $322,000.

Frontier Communications Parent Stock Up 0.2%

NASDAQ:FYBR opened at $37.77 on Monday. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.30 and a quick ratio of 0.30. Frontier Communications Parent, Inc. has a one year low of $33.72 and a one year high of $37.87. The firm’s 50 day simple moving average is $37.36 and its 200 day simple moving average is $36.83. The company has a market cap of $9.46 billion, a PE ratio of -24.85 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data 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. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.Frontier Communications Parent’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) earnings per share. On average, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Frontier Communications Parent in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

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.