On August 23, 2023, ARES MANAGEMENT LLC, a Los Angeles-based investment firm, added 383,179,41 shares of Frontier Communications Parent Inc (FYBR, Financial) to its portfolio. This acquisition, which saw a share change of 212,443, represents a 0.56% trade change and a 0.07% impact on the firm's portfolio. The transaction was executed at a trade price of $15.17 per share, bringing the firm's total holdings in FYBR to 15.59% and making it a significant position in the firm's portfolio at 12.02%.
About ARES MANAGEMENT LLC
ARES MANAGEMENT LLC is a renowned investment firm located at 2000 Avenue of the Stars, Los Angeles, CA 90067. The firm's investment philosophy is centered on value investing, with a focus on companies in the Consumer Cyclical and Communication Services sectors. As of the date of this article, the firm holds 40 stocks in its portfolio, with a total equity of $4.83 billion. Its top holdings include Clear Channel Outdoor Holdings Inc (CCO, Financial), Albertsons Companies Inc (ACI, Financial), California Resources Corp (CRC, Financial), Frontier Communications Parent Inc (FYBR, Financial), and Savers Value Village Inc (SVV, Financial).
Frontier Communications Parent Inc: A Brief Overview
Frontier Communications Parent Inc (FYBR, Financial), a USA-based company, made its Initial Public Offering (IPO) on May 4, 2021. The company provides a variety of services to residential and business customers over its fiber-optic and copper networks, including video, high-speed internet, advanced voice, and Frontier Secure digital protection solutions. It also offers communication solutions to small, medium, and enterprise businesses. The company operates in several segments, including Data and Internet services, Other, Subsidy and other revenue, Video services, and Voice services. As of the date of this article, the company has a market capitalization of $3.79 billion and a stock price of $15.4306.
Financial Health and Performance of FYBR
Frontier Communications Parent Inc has a Financial Strength rank of 4/10 and a Profitability Rank of 4/10. The company's Growth Rank is 0/10, indicating a lack of growth in recent years. The company's Piotroski F-Score is 6, and its Altman Z score is 0.66, suggesting a low probability of financial distress. The company's cash to debt ratio is 0.13, and its interest coverage is 1.09.
Comparison with the Largest Guru
The largest guru holding shares in Frontier Communications Parent Inc is Gotham Asset Management, LLC. The recent transaction by ARES MANAGEMENT LLC has significantly increased its stake in FYBR, making it one of the top holders of the stock.
In conclusion, the acquisition of shares in Frontier Communications Parent Inc by ARES MANAGEMENT LLC represents a significant addition to the firm's portfolio. The transaction underscores the firm's confidence in FYBR's potential for growth and profitability. However, investors should conduct their own due diligence before making investment decisions.
