Act Ii Management Lp buys $5,438,664 stake in Frontier Communications Corp (FTR)

Frontier Communications Corp (FTR) : Act Ii Management Lp scooped up 21,374 additional shares in Frontier Communications Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,121,374 shares of Frontier Communications Corp which is valued at $5,438,664.Frontier Communications Corp makes up approximately 4.03% of Act Ii Management Lp’s portfolio.

Other Hedge Funds, Including , Girard Securities boosted its stake in FTR in the latest quarter, The investment management firm added 1,254 additional shares and now holds a total of 100,480 shares of Frontier Communications Corp which is valued at $487,328. Frontier Communications Corp makes up approx 0.43% of Girard Securities’s portfolio.Janus Capital Management boosted its stake in FTR in the latest quarter, The investment management firm added 3,360,094 additional shares and now holds a total of 3,720,243 shares of Frontier Communications Corp which is valued at $18,043,179. Frontier Communications Corp makes up approx 0.01% of Janus Capital Management’s portfolio. Baird Financial Group sold out all of its stake in FTR during the most recent quarter. The investment firm sold 90,868 shares of FTR which is valued $440,710.

Frontier Communications Corp closed down -0.06 points or -1.30% at $4.54 with 1,91,65,747 shares getting traded on Thursday. Post opening the session at $4.62, the shares hit an intraday low of $4.52 and an intraday high of $4.635 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Frontier Communications Corp reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.04. The company had revenue of $2608.00 million for the quarter, compared to analysts expectations of $2736.64 million. The company’s revenue was up 90.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Investors should note that on Aug 1, 2016, Frontier Communications Corp announced a cash dividend of $0.1050. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Frontier Communications Corp. Frontier Communications Corp was Upgraded by Macquarie to ” Neutral” on Sep 6, 2016. Frontier Communications Corp was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 18, 2016. Frontier Communications Corp was Initiated by Macquarie to “Underperform” on Jul 11, 2016.

Frontier Communications Corporation is a communications company. The Company is engaged in providing services to rural areas and small and medium-sized towns and cities in the United States. It offers a range of voice data and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. It conducts business with both residential and business customers and it provides the last mile of communications services to customers in these markets. The Company provides data and Internet services and wireless data services basic local and long distance voice wireline services to residential and business customers in its service areas network access to interexchange carriers for origination and termination of long distance voice and data traffic sales of its own and third party video services and sales of customer premise equipment.

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