Frontier Communications Corp (FTR) Position Boosted by Clinton Group Inc.

Clinton Group Inc. boosted its position in shares of Frontier Communications Corp (NASDAQ:FTR) by 207.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,241,633 shares of the utilities provider’s stock after buying an additional 837,212 shares during the period. Clinton Group Inc. owned 0.11% of Frontier Communications Corp worth $2,657,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in Frontier Communications Corp by 14.1% in the third quarter. Great West Life Assurance Co. Can now owns 1,098,667 shares of the utilities provider’s stock worth $4,566,000 after buying an additional 135,445 shares in the last quarter. First Trust Advisors LP raised its position in Frontier Communications Corp by 18.9% in the third quarter. First Trust Advisors LP now owns 14,898,587 shares of the utilities provider’s stock worth $61,978,000 after buying an additional 2,372,457 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Frontier Communications Corp by 37.3% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,790,359 shares of the utilities provider’s stock worth $11,608,000 after buying an additional 757,496 shares in the last quarter. TradeLink Capital LLC raised its position in Frontier Communications Corp by 35.6% in the third quarter. TradeLink Capital LLC now owns 46,352 shares of the utilities provider’s stock worth $193,000 after buying an additional 12,174 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Frontier Communications Corp during the third quarter worth approximately $291,000. 67.26% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Frontier Communications Corp (NASDAQ:FTR)

Frontier Communications Corp (NASDAQ:FTR) traded down 2.14% during midday trading on Wednesday, reaching $1.37. 26,739,811 shares of the company’s stock were exchanged. Frontier Communications Corp has a 12 month low of $1.18 and a 12 month high of $5.30. The company’s market cap is $1.61 billion. The company has a 50 day moving average price of $1.70 and a 200 day moving average price of $2.80. Frontier Communications Corp also was the recipient of unusually large options trading on Monday. Traders acquired 12,403 call options on the stock. This represents an increase of approximately 566% compared to the average volume of 1,863 call options.

Frontier Communications Corp (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.03. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.34 billion. Frontier Communications Corp had a positive return on equity of 2.05% and a negative net margin of 5.01%. On average, equities analysts anticipate that Frontier Communications Corp will post ($0.25) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 11.68%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corp’s payout ratio is -77.78%.

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FTR has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $5.00 price target on shares of Frontier Communications Corp in a research report on Friday, February 17th. JPMorgan Chase & Co. lowered shares of Frontier Communications Corp from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $2.96 to $2.51 in a research report on Tuesday, February 28th. Morgan Stanley lowered shares of Frontier Communications Corp from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 28th. Royal Bank of Canada reissued a “hold” rating and issued a $3.50 price target on shares of Frontier Communications Corp in a research report on Tuesday, February 28th. Finally, TheStreet lowered shares of Frontier Communications Corp from a “c-” rating to a “d+” rating in a research report on Monday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $3.46.

Frontier Communications Corp Company Profile

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

12 Month Chart for NASDAQ:FTR

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