Wealthtrust Axiom Lowers stake in Frontier Communications Corp (FTR)

Frontier Communications Corp (FTR) : Wealthtrust Axiom reduced its stake in Frontier Communications Corp by 5.31% during the most recent quarter end. The investment management company now holds a total of 1,203,132 shares of Frontier Communications Corp which is valued at $6,123,942 after selling 67,442 shares in Frontier Communications Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Frontier Communications Corp makes up approximately 2.31% of Wealthtrust Axiom’s portfolio.

Other Hedge Funds, Including , Hl Financial Services boosted its stake in FTR in the latest quarter, The investment management firm added 715 additional shares and now holds a total of 32,817 shares of Frontier Communications Corp which is valued at $167,039.Msi Financial Services Inc reduced its stake in FTR by selling 5,633 shares or 4.19% in the most recent quarter. The Hedge Fund company now holds 128,795 shares of FTR which is valued at $655,567. Frontier Communications Corp makes up approx 0.02% of Msi Financial Services Inc’s portfolio.Cordasco Financial Network reduced its stake in FTR by selling 155 shares or 85.16% in the most recent quarter. The Hedge Fund company now holds 27 shares of FTR which is valued at $137. Acadian Asset Management sold out all of its stake in FTR during the most recent quarter. The investment firm sold 128,339 shares of FTR which is valued $646,829.

Frontier Communications Corp opened for trading at $5.1 and hit $5.2 on the upside on Friday, eventually ending the session at $5.2, with a gain of 2.16% or 0.11 points. The heightened volatility saw the trading volume jump to 1,42,95,556 shares. Company has a market cap of $6,100 M.

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.

Many Wall Street Analysts have commented on Frontier Communications Corp. 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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