Point72 Asset Management L.P. bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,000 shares of the company's stock, valued at approximately $1,990,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Frontier Communications Parent in the 2nd quarter worth about $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent during the third quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent during the third quarter valued at approximately $52,000. Farther Finance Advisors LLC increased its stake in Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company's stock valued at $64,000 after buying an additional 811 shares during the period. Finally, Blue Trust Inc. lifted its position in Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company's stock worth $55,000 after buying an additional 2,244 shares in the last quarter.
Insider Transactions at Frontier Communications Parent
In related news, EVP John Harrobin sold 23,491 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the sale, the executive vice president now owns 121,182 shares of the company's stock, valued at $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.
Frontier Communications Parent Stock Performance
NASDAQ:FYBR traded up $0.08 during trading hours on Tuesday, hitting $34.67. 1,724,654 shares of the company traded hands, compared to its average volume of 2,249,928. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a twelve month low of $20.51 and a twelve month high of $39.21. The firm has a 50-day moving average of $35.17 and a 200 day moving average of $31.02. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of -46.12 and a beta of 1.05.
Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.
Analyst Upgrades and Downgrades
FYBR has been the subject of several recent research reports. Benchmark lowered Frontier Communications Parent from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company reissued an "equal weight" rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Raymond James downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "market perform" rating in a research report on Monday, October 28th. Citigroup lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, TD Cowen lowered Frontier Communications Parent from a "buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $35.31.
Check Out Our Latest Report on Frontier Communications Parent
Frontier Communications Parent Company Profile
(
Free Report)
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.
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