Yakira Capital Management Inc. Acquires New Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Yakira Capital Management Inc. bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,700 shares of the company’s stock, valued at approximately $337,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York Life Investment Management LLC acquired a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Frontier Communications Parent during the fourth quarter valued at about $9,948,000. Raymond James Financial Inc. bought a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $2,065,000. Alpine Associates Management Inc. increased its stake in shares of Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after buying an additional 765,250 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Frontier Communications Parent in the 4th quarter valued at approximately $1,583,000.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $35.64 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm’s fifty day simple moving average is $35.83 and its two-hundred day simple moving average is $35.40. Frontier Communications Parent, Inc. has a 12 month low of $21.31 and a 12 month high of $39.21. The stock has a market capitalization of $8.90 billion, a P/E ratio of -27.63 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. As a group, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FYBR shares. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.31.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the sale, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

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.