Citigroup Inc. Boosts Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Citigroup Inc. lifted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 53.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 345,066 shares of the company’s stock after purchasing an additional 119,834 shares during the period. Citigroup Inc.’s holdings in Frontier Communications Parent were worth $12,374,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Frontier Communications Parent by 23.3% in the 1st 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 during the period. CSS LLC IL acquired a new stake in shares of Frontier Communications Parent during the 4th quarter worth about $392,000. Tabor Asset Management LP acquired a new stake in shares of Frontier Communications Parent during the 1st quarter worth about $2,069,000. BNP Paribas Financial Markets acquired a new stake in shares of Frontier Communications Parent in the fourth quarter worth approximately $970,000. Finally, Hudson Bay Capital Management LP boosted its position in shares of Frontier Communications Parent by 60.6% in the fourth quarter. Hudson Bay Capital Management LP now owns 532,999 shares of the company’s stock worth $18,495,000 after acquiring an additional 201,047 shares during the last quarter.

Frontier Communications Parent Price Performance

FYBR opened at $37.08 on Friday. The company’s 50 day simple moving average is $36.55 and its 200 day simple moving average is $36.22. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36. Frontier Communications Parent, Inc. has a 1 year low of $27.67 and a 1 year high of $39.21. The stock has a market capitalization of $9.28 billion, a PE ratio of -23.92 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.49) EPS. As a group, sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

About Frontier Communications Parent

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.