Shake-Up Alert: 40 Companies Facing Activist Pressure

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17. Jana Partners at Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Stock Return: 64.78%

S&P 500 Return: 26.45%

Investment date: 17/10/2023

Number of hedge funds holding stakes: 35

Jana Partners, a hedge fund dedicated to activism in investments, is calling on Frontier Communications Parent, Inc. (NASDAQ:FYBR) to commence a comprehensive evaluation of the business that might involve selling the telecommunications firm, claiming that its stock performance will remain poor without intervention. The fiber broadband company offers communication and technology services across the US.

Since the activist investor made the remarks late last year, the stock has gained 16% in 2024 as it continues to bounce back after years of underperformance. 35 out of 920 hedge funds tracked by Insider Monkey held stakes in Frontier Communications Parent, Inc. (NASDAQ:FYBR) as of the end of Q1 2024.

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