Ethic Inc. Decreases Stock Holdings in Frontier Communications Parent, Inc. $FYBR

Ethic Inc. decreased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,826 shares of the company’s stock after selling 7,095 shares during the quarter. Ethic Inc.’s holdings in Frontier Communications Parent were worth $792,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. grew its stake in shares of Frontier Communications Parent by 5.0% during the 2nd quarter. QRG Capital Management Inc. now owns 6,635 shares of the company’s stock valued at $242,000 after purchasing an additional 317 shares during the period. Xponance Inc. grew its stake in shares of Frontier Communications Parent by 1.3% during the 1st quarter. Xponance Inc. now owns 26,712 shares of the company’s stock valued at $958,000 after purchasing an additional 333 shares during the period. Brooklyn Investment Group grew its stake in shares of Frontier Communications Parent by 46.1% during the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company’s stock valued at $41,000 after purchasing an additional 359 shares during the period. Vident Advisory LLC grew its stake in shares of Frontier Communications Parent by 3.9% during the 1st quarter. Vident Advisory LLC now owns 11,147 shares of the company’s stock valued at $400,000 after purchasing an additional 421 shares during the period. Finally, US Bancorp DE grew its stake in shares of Frontier Communications Parent by 5.8% during the 1st quarter. US Bancorp DE now owns 8,223 shares of the company’s stock valued at $295,000 after purchasing an additional 450 shares during the period.

Frontier Communications Parent Trading Up 0.1%

Frontier Communications Parent stock opened at $37.56 on Tuesday. The firm has a 50 day moving average of $37.31 and a 200 day moving average of $36.77. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of -24.23 and a beta of 0.94. Frontier Communications Parent, Inc. has a 12-month low of $33.72 and a 12-month high of $37.87. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49.

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). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted ($0.49) earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Communications Parent in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Frontier Communications Parent currently has an average rating of “Reduce”.

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.