Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stake Cut by Alberta Investment Management Corp

Alberta Investment Management Corp cut its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 43.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 407,800 shares of the company’s stock after selling 308,700 shares during the period. Alberta Investment Management Corp’s holdings in Frontier Communications Parent were worth $14,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in Frontier Communications Parent by 5.8% in the first quarter. US Bancorp DE now owns 8,223 shares of the company’s stock valued at $295,000 after buying an additional 450 shares during the last quarter. Alpine Associates Management Inc. lifted its stake in Frontier Communications Parent by 53.9% in the first quarter. Alpine Associates Management Inc. now owns 1,604,844 shares of the company’s stock valued at $57,550,000 after buying an additional 562,214 shares during the last quarter. Natixis Advisors LLC lifted its stake in Frontier Communications Parent by 25.3% in the first quarter. Natixis Advisors LLC now owns 24,210 shares of the company’s stock valued at $868,000 after buying an additional 4,886 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Frontier Communications Parent by 208.8% in the first quarter. Bayforest Capital Ltd now owns 8,421 shares of the company’s stock valued at $302,000 after buying an additional 5,694 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Frontier Communications Parent by 391.3% in the first quarter. GSA Capital Partners LLP now owns 86,807 shares of the company’s stock valued at $3,113,000 after buying an additional 69,137 shares during the last quarter.

Frontier Communications Parent Stock Performance

FYBR stock opened at $36.60 on Friday. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.42 and a current ratio of 0.36. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -23.61 and a beta of 0.95. Frontier Communications Parent, Inc. has a 1 year low of $24.43 and a 1 year high of $39.21. The stock’s fifty day moving average is $36.49 and its two-hundred day moving average is $36.16.

Frontier Communications Parent (NASDAQ:FYBR) last posted its 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). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business posted ($0.49) earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.