AlphaQuest LLC Buys 68,124 Shares of Frontier Communications Parent, Inc. $FYBR

AlphaQuest LLC increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1,754.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 72,008 shares of the company’s stock after acquiring an additional 68,124 shares during the quarter. AlphaQuest LLC’s holdings in Frontier Communications Parent were worth $2,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FYBR. Voya Investment Management LLC lifted its stake in Frontier Communications Parent by 201.6% during the 3rd quarter. Voya Investment Management LLC now owns 79,008 shares of the company’s stock valued at $2,951,000 after acquiring an additional 52,812 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Frontier Communications Parent in the 2nd quarter worth $1,997,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Frontier Communications Parent in the second quarter valued at about $3,872,000. Mint Tower Capital Management B.V. purchased a new stake in shares of Frontier Communications Parent in the second quarter valued at about $728,000. Finally, Credit Industriel ET Commercial lifted its position in shares of Frontier Communications Parent by 62.9% during the second quarter. Credit Industriel ET Commercial now owns 355,460 shares of the company’s stock valued at $12,939,000 after purchasing an additional 137,261 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on FYBR. Zacks Research raised shares of Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Frontier Communications Parent in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Frontier Communications Parent Price Performance

FYBR stock opened at $38.49 on Friday. 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 firm has a 50 day moving average price of $38.17 and a 200-day moving average price of $37.58. Frontier Communications Parent, Inc. has a 52-week low of $35.31 and a 52-week high of $38.50. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of -25.32 and a beta of 0.94.

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

About Frontier Communications Parent

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.