Menta Capital LLC Cuts Stake in Frontier Communications Corporation (FTR)

RBC Capital Markets maintained Frontier Communications Corp (NASDAQ:FTR) rating on Tuesday, August 8. The stock saw a rise in short interest from August 15, 2017 to August 31, 2017 of 12.79%. The stock exchanged hands with 763,361 numbers of shares compared to its average daily volume of 2.83M shares. Sell-side analyst recommendations point to a short term price target of $17.52 on the company shares.

Several hedge funds have recently added to or reduced their stakes in FTR.

At the end of June reporting period, 218 institutional holders increased their position in Frontier Communications Corporation (NASDAQ:FTR) by some 685,895,644 shares, 294 decreased positions by 15,665,416 and 71 held positions by 25,155,757. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 116,799,968 shares of the stock are valued at $1.38 billion. Frontier Communications Corp has a 1-year low of $1.84 and a 1-year high of $5.70. The Pomelo Capital Llc holds 36,000 shares with $626,000 value, down from 300,000 last quarter. BlueMountain Capital Management LLC lifted its stake in shares of Frontier Communications Corporation by 936.8% in the 2nd quarter. Aviva PLC now owns 736,919 shares of the utilities provider's stock worth $855,000 after acquiring an additional 3,410 shares in the last quarter. As of quarter end Bluecrest Capital Management Ltd had disposed of a total of 73,016 shares trimming its position 13.2%. GSA Capital Partners LLP purchased a new position in Frontier Communications Corporation during the 2nd quarter valued at about $113,000.

FTR has been the subject of several recent research reports. Finally, JPMorgan Chase & Co. lowered shares of Frontier Communications Corp from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $2.96 to $2.51 in a research report on Tuesday, February 28th.

July 13 investment analysts at Citigroup left the stock rating at "Neutral" but moved up the price target to $13.80 from $3.50.

Frontier Communications Corporation's average Book Value per Share Growth Rate was -29.8 percent during the past 12 months. The mean rating score for this stock is at 2.90. Thrivent Financial For Lutherans lifted its stake in shares of Frontier Communications Corporation by 7.7% in the 2nd quarter. Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn't suggest or recommend buying or selling of any financial instrument, unless that information is subsequently confirmed on your own. Frontier Communications Corp presently has a consensus rating of "Hold" and a consensus price target of $3.73. Millennium Management Limited Liability Com holds 0% in Frontier Communications Corp (NASDAQ:FTR) or 1.77M shares. The fund purchased 7,088,937 shares of the utilities provider's stock, valued at approximately $8,223,000.

Shares of company were isolated negatively of 50 days simple moving average with -11.10% while 200 days simple moving average with -58.12%. The stock of Rent-A-Center Inc (NASDAQ:RCII) earned "Buy" rating by Topeka Capital Markets on Tuesday, May 24.

Frontier Communications Corporation (NASDAQ:FTR) closed its last session at $12.31. The company's quarterly EPS surprised Wall Street by as much as 51% to the upside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted ($0.29) EPS. The company's revenue was down 11.7% compared to the same quarter past year. On average, analysts expect that Frontier Communications Corporation will post ($4.13) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. This represents a $2.40 annualized dividend and a yield of 19.46%. Frontier Communications Corporation posted earnings of ($0.60) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 85%. The ex-dividend date of this dividend was Monday, March 13th. More interesting news about Frontier Communications Corp (NASDAQ:FTR) were released by: Fool.com and their article: "Why Frontier Communications Corp". If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and global copyright legislation.

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