Frontier Communications Corporation (FTR) Shares Sold by HighTower Advisors LLC

Bruno Cirelli
Agosto 10, 2017

The institutional investor owned 174,000 shares of the utilities provider's stock after buying an additional 37,516 shares during the period. HighTower Advisors LLC's holdings in Frontier Communications Corporation were worth $258,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its position in shares of Frontier Communications Corporation by 6.6% in the fourth quarter. State Treasurer State of MI now owns 483,600 shares of the utilities provider's stock valued at $561,000 after buying an additional 7,000 shares during the last quarter. Finally, Crow Point Partners LLC purchased a new stake in Frontier Communications Corporation during the second quarter valued at $4,853,000. Bollard Group LLC now owns 92,852 shares of the utilities provider's stock valued at $108,000 after buying an additional 2,973 shares during the last quarter. Raymond James Trust N.A. raised its stake in Frontier Communications Corporation by 1.9% in the first quarter. Raymond James Trust N.A. now owns 125,270 shares of the utilities provider's stock worth $268,000 after buying an additional 2,358 shares during the last quarter. Morgan Stanley increased its stake in Frontier Communications Corporation by 133.9% in the first quarter. Eqis Capital Management Inc. now owns 57,967 shares of the utilities provider's stock valued at $124,000 after buying an additional 18,615 shares during the last quarter. State Treasurer State of MI boosted its stake in Frontier Communications Corporation by 1.5% in the second quarter. Cadence Capital Management LLC now owns 46,516 shares of the utilities provider's stock worth $100,000 after buying an additional 2,661 shares during the last quarter.

Shares of Frontier Communications Corporation (NASDAQ:FTR) traded down 0.79% during trading on Wednesday, hitting $15.08. The company's 50-day moving average price is $16.10 and its 200-day moving average price is $29.71. Frontier Communications Corporation has a 1-year low of $13.13 and a 1-year high of $74.10.

Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, August 1st.

The share price of the company (NASDAQ:FTR) was down -0.79%, with a high of 15.48 during the day and the volume of Frontier Communications Corporation shares traded was 3190033. Technical Communications Corporation had a negative net margin of 78.52% and a negative return on equity of 49.00%. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.31 billion. Looking out over a next 5-year period, analysts expect the company to see its earnings go up by 7.30%, annually. The company's revenue for the quarter was down 11.7% compared to the same quarter previous year. Equities research analysts anticipate that Frontier Communications Corporation will post ($3.95) EPS for the current year. Additionally the company recently declared a dividend for shareholders that will be paid on Friday September 29th, 2017. The ex-dividend date is Tuesday the 13th of June 2017. Ckw Fincl Grp stated it has 0% in Frontier Communications Corp (NASDAQ:FTR).

In a report issued on August 2, UBS also assigned a Hold rating to the stock with a $15 price target. Frontier Communications Corporation's dividend payout ratio is -16.65%.

Hartford Investment Management Co increased Kinder Morgan Inc. Meeder Asset Management Inc.'s holdings in Frontier Communications Corporation were worth $273,000 as of its most recent SEC filing. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and global copyright & trademark legislation. The correct version of this article can be viewed at https://transcriptdaily.com/2017/08/09/hightower-advisors-llc-sells-31020-shares-of-frontier-communications-corporation-ftr-updated-updated.html.

FTR has been the topic of several research reports. Citigroup Inc. upgraded Frontier Communications Corporation from a "sell" rating to a "neutral" rating and set a $1.75 target price for the company in a research report on Wednesday, May 3rd.

Shares of Frontier Communications Corporation (FTR) opened at 15.08 on Thursday. Jefferies Group LLC reissued a "buy" rating and issued a $25.00 price target (down previously from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. They now have a Dollars 16 price target on the stock.

Frontier Communications Corporation is a well-known provider of communications services in the United States. The Company offers a range of broadband services. The Company's services and products include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

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