Picton Mahoney Asset Management Sells 161,332 Shares of Frontier Communications Parent, Inc. $FYBR

Picton Mahoney Asset Management cut its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 761,768 shares of the company’s stock after selling 161,332 shares during the quarter. Picton Mahoney Asset Management owned 0.30% of Frontier Communications Parent worth $27,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 valued at $873,364,000 after purchasing an additional 77,795 shares in the last quarter. Pentwater Capital Management LP purchased a new position in Frontier Communications Parent in the 1st quarter worth about $161,370,000. Millennium Management LLC raised its position in Frontier Communications Parent by 56.2% in the 1st quarter. Millennium Management LLC now owns 4,487,109 shares of the company’s stock worth $160,908,000 after buying an additional 1,615,356 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Frontier Communications Parent by 39.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,378,238 shares of the company’s stock valued at $157,004,000 after acquiring an additional 1,228,524 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Frontier Communications Parent by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,364,189 shares of the company’s stock valued at $86,056,000 after acquiring an additional 43,562 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Frontier Communications Parent Trading Up 0.3%

Shares of FYBR stock opened at $37.91 on Monday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a fifty day simple moving average of $37.56 and a two-hundred day simple moving average of $36.99. The firm has a market capitalization of $9.49 billion, a PE ratio of -24.94 and a beta of 0.94. Frontier Communications Parent, Inc. has a 52-week low of $34.39 and a 52-week high of $37.97.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, topping 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 firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, 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.