PNC Financial Services Group Inc. Grows Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

PNC Financial Services Group Inc. grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,417 shares of the company’s stock after purchasing an additional 560 shares during the period. PNC Financial Services Group Inc.’s holdings in Frontier Communications Parent were worth $302,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Frontier Communications Parent by 23.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company’s stock valued at $334,000 after purchasing an additional 1,755 shares during the last quarter. CSS LLC IL purchased a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $392,000. Tabor Asset Management LP purchased a new position in shares of Frontier Communications Parent during the first quarter valued at approximately $2,069,000. BNP Paribas Financial Markets purchased a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $970,000. Finally, Hudson Bay Capital Management LP lifted its holdings in shares of Frontier Communications Parent by 60.6% during the fourth quarter. Hudson Bay Capital Management LP now owns 532,999 shares of the company’s stock valued at $18,495,000 after purchasing an additional 201,047 shares during the last quarter.

Frontier Communications Parent Price Performance

FYBR stock opened at $37.11 on Friday. The firm has a 50 day moving average price of $36.57 and a 200-day moving average price of $36.23. Frontier Communications Parent, Inc. has a 52-week low of $27.67 and a 52-week high of $39.21. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of -23.94 and a beta of 0.95. 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 (NASDAQ:FYBR) last released its earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The business had revenue of $1.54 billion for 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%. Frontier Communications Parent’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.49) earnings per share. Equities research analysts forecast 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.