Ionic Capital Management LLC Invests $212,000 in Frontier Communications Corporation (FTR)

Ionic Capital Management LLC acquired a new position in Frontier Communications Corporation (NASDAQ:FTR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 99,100 shares of the utilities provider’s stock, valued at approximately $212,000.

Other hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Frontier Communications Corporation by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 67,244 shares of the utilities provider’s stock worth $227,000 after buying an additional 246 shares during the period. Bank of Montreal Can increased its stake in Frontier Communications Corporation by 18.9% in the first quarter. Bank of Montreal Can now owns 3,780,896 shares of the utilities provider’s stock worth $8,091,000 after buying an additional 601,074 shares during the period. UBS Asset Management Americas Inc. increased its stake in Frontier Communications Corporation by 0.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,071,083 shares of the utilities provider’s stock worth $10,381,000 after buying an additional 7,722 shares during the period. Comerica Bank increased its stake in Frontier Communications Corporation by 1.7% in the fourth quarter. Comerica Bank now owns 301,680 shares of the utilities provider’s stock worth $1,068,000 after buying an additional 4,949 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Frontier Communications Corporation by 1.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,389,292 shares of the utilities provider’s stock worth $5,113,000 after buying an additional 25,389 shares during the period. Institutional investors and hedge funds own 63.91% of the company’s stock.

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

Shares of Frontier Communications Corporation (NASDAQ:FTR) traded up 6.11% during midday trading on Friday, reaching $1.39. 71,771,224 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $1.40 and its 200 day moving average price is $2.58. The firm’s market capitalization is $1.64 billion. Frontier Communications Corporation has a one year low of $1.19 and a one year high of $5.22.

Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.03. Frontier Communications Corporation had a negative net margin of 2.65% and a positive return on equity of 0.19%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.34 billion. On average, equities research analysts expect that Frontier Communications Corporation will post ($0.25) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 11.51%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corporation’s dividend payout ratio (DPR) is currently -38.10%.

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Several equities analysts have recently weighed in on the stock. Citigroup Inc. reduced their target price on shares of Frontier Communications Corporation from $2.25 to $1.75 and set a “sell” rating for the company in a research note on Monday, March 20th. TheStreet downgraded shares of Frontier Communications Corporation from a “c-” rating to a “d+” rating in a research note on Monday, February 27th. Zacks Investment Research upgraded shares of Frontier Communications Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Morgan Stanley lifted their target price on shares of Frontier Communications Corporation from $2.30 to $4.20 and gave the stock an “equal weight” rating in a research note on Thursday, March 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $3.50 target price on shares of Frontier Communications Corporation in a research note on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Frontier Communications Corporation presently has an average rating of “Hold” and an average price target of $3.27.

Frontier Communications Corporation 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).

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