KLP Kapitalforvaltning AS Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

KLP Kapitalforvaltning AS bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 41,100 shares of the company's stock, valued at approximately $1,426,000.

A number of other large investors have also added to or reduced their stakes in FYBR. Slotnik Capital LLC bought a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $34,286,000. Alpine Associates Management Inc. raised its stake in Frontier Communications Parent by 275.9% during the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock worth $36,179,000 after acquiring an additional 765,250 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $25,157,000. Alberta Investment Management Corp purchased a new position in shares of Frontier Communications Parent in the fourth quarter valued at about $24,863,000. Finally, Amundi raised its position in shares of Frontier Communications Parent by 1,363.0% during the fourth quarter. Amundi now owns 746,109 shares of the company's stock valued at $26,345,000 after buying an additional 695,109 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Finally, New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $35.31.

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Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Price Performance

Shares of FYBR stock traded down $0.11 on Thursday, reaching $35.94. 2,280,824 shares of the company were exchanged, compared to its average volume of 2,590,605. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The company has a market cap of $8.97 billion, a price-to-earnings ratio of -27.86 and a beta of 1.04. The business has a 50-day moving average price of $35.83 and a 200 day moving average price of $35.40. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Frontier Communications Parent Profile

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.