Magnetar Financial LLC Grows Position in Frontier Communications Parent, Inc. $FYBR

Magnetar Financial LLC grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,178,449 shares of the company’s stock after purchasing an additional 8,518 shares during the quarter. Frontier Communications Parent comprises approximately 0.4% of Magnetar Financial LLC’s portfolio, making the stock its 12th biggest holding. Magnetar Financial LLC owned 0.87% of Frontier Communications Parent worth $79,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank boosted its holdings in Frontier Communications Parent by 4.7% in the 2nd quarter. Swiss National Bank now owns 429,400 shares of the company’s stock worth $15,630,000 after buying an additional 19,300 shares during the period. Handelsbanken Fonder AB raised its holdings in Frontier Communications Parent by 12.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 54,100 shares of the company’s stock valued at $1,969,000 after acquiring an additional 6,100 shares during the period. Greenland Capital Management LP lifted its position in shares of Frontier Communications Parent by 49.1% during the second quarter. Greenland Capital Management LP now owns 73,851 shares of the company’s stock worth $2,688,000 after acquiring an additional 24,326 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Frontier Communications Parent by 52.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 38,615 shares of the company’s stock worth $1,406,000 after acquiring an additional 13,224 shares during the period. Finally, Mint Tower Capital Management B.V. purchased a new position in shares of Frontier Communications Parent in the second quarter valued at $728,000.

Wall Street Analyst Weigh In

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

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $37.81 on Friday. The company’s 50 day simple moving average is $37.55 and its two-hundred day simple moving average is $36.97. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.30 and a quick ratio of 0.30. Frontier Communications Parent, Inc. has a 1 year low of $34.39 and a 1 year high of $37.97. The stock has a market capitalization of $9.47 billion, a PE ratio of -24.88 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. Analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Frontier Communications Parent Company 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.