Luxor Capital Group LP Has $72.94 Million Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Luxor Capital Group LP trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 26.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,052,817 shares of the company’s stock after selling 743,515 shares during the quarter. Frontier Communications Parent makes up 4.6% of Luxor Capital Group LP’s holdings, making the stock its 5th largest position. Luxor Capital Group LP owned about 0.82% of Frontier Communications Parent worth $72,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FYBR. Dimensional Fund Advisors LP lifted its holdings in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Frontier Communications Parent by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after buying an additional 109,648 shares during the period. American Century Companies Inc. boosted its holdings in shares of Frontier Communications Parent by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock worth $52,515,000 after buying an additional 79,265 shares during the period. Bank of New York Mellon Corp grew its stake in Frontier Communications Parent by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,874,245 shares of the company’s stock valued at $49,068,000 after buying an additional 51,133 shares during the last quarter. Finally, Anchorage Capital Advisors L.P. lifted its position in Frontier Communications Parent by 26.6% during the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock worth $61,451,000 after acquiring an additional 362,888 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $34.64 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The company has a 50 day moving average of $35.19 and a 200-day moving average of $30.96. Frontier Communications Parent, Inc. has a 1-year low of $20.51 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now owns 121,182 shares in the company, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.