FIL Ltd Invests $49.23 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

FIL Ltd purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,418,673 shares of the company's stock, valued at approximately $49,228,000. FIL Ltd owned approximately 0.57% of Frontier Communications Parent at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FYBR. UMB Bank n.a. grew its holdings in Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after buying an additional 425 shares in the last quarter. Russell Investments Group Ltd. grew its position in Frontier Communications Parent by 37.9% in the fourth quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after acquiring an additional 1,399 shares in the last quarter. Blue Trust Inc. raised its position in Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after purchasing an additional 1,581 shares during the period. Impact Partnership Wealth LLC purchased a new position in shares of Frontier Communications Parent in the 4th quarter worth approximately $228,000. Finally, Vestcor Inc bought a new stake in Frontier Communications Parent in the fourth quarter worth $234,000.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the sale, the executive vice president now owns 76,523 shares of the company's stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR remained flat at $35.87 during trading hours on Tuesday. 515,991 shares of the company were exchanged, compared to its average volume of 2,993,396. The firm has a 50 day simple moving average of $35.82 and a 200 day simple moving average of $35.41. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market cap of $8.98 billion, a P/E ratio of -27.81 and a beta of 1.01. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

FYBR has been the subject of several analyst reports. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $36.07.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.