Millennium Management LLC lifted its position in shares of Frontier Communications Corp (NASDAQ:FTR) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 783,963 shares of the utilities provider’s stock after purchasing an additional 147,260 shares during the quarter. Millennium Management LLC’s holdings in Frontier Communications were worth $1,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shelton Capital Management bought a new stake in shares of Frontier Communications during the fourth quarter valued at approximately $25,000. Royal London Asset Management Ltd. purchased a new position in Frontier Communications during the fourth quarter valued at $34,000. LPL Financial LLC purchased a new position in Frontier Communications during the third quarter valued at $103,000. Royce & Associates LP raised its stake in Frontier Communications by 60.2% during the fourth quarter. Royce & Associates LP now owns 18,828 shares of the utilities provider’s stock valued at $45,000 after buying an additional 7,076 shares during the last quarter. Finally, Magnus Financial Group LLC purchased a new position in Frontier Communications during the fourth quarter valued at $53,000. Institutional investors own 78.23% of the company’s stock.

FTR stock opened at $2.50 on Thursday. Frontier Communications Corp has a 1-year low of $1.81 and a 1-year high of $11.64. The company has a debt-to-equity ratio of 10.22, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $261.19 million, a PE ratio of -1.87 and a beta of 1.07.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, February 26th. The utilities provider reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). Frontier Communications had a negative return on equity of 0.62% and a negative net margin of 7.47%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned ($0.59) EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Communications Corp will post -0.79 EPS for the current fiscal year.

FTR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Tuesday, January 29th. Royal Bank of Canada reiterated a “hold” rating and set a $3.00 price objective on shares of Frontier Communications in a research note on Wednesday, February 27th. Cowen reiterated a “hold” rating and set a $3.00 price objective on shares of Frontier Communications in a research note on Wednesday, February 27th. BidaskClub upgraded Frontier Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Raymond James cut Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 price objective for the company. in a research note on Tuesday, February 19th. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Frontier Communications presently has an average rating of “Hold” and an average price target of $3.47.

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Frontier Communications Profile

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper-based networks to consumer customers. The company also provides Ethernet and traditional circuit-based services; software defined wide area network, managed Wi-Fi and cloud IT solutions, voice and Unified Communications as a Service (UCaaS), and Voice over Internet Protocol (VoIP) services, as well as hardware and network solutions and services to small and medium business, and large enterprises.

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

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