Adage Capital Partners GP L.L.C. Boosts Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Adage Capital Partners GP L.L.C. lifted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 472.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,149,714 shares of the company's stock after purchasing an additional 2,599,714 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.26% of Frontier Communications Parent worth $109,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Frontier Communications Parent by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock valued at $842,412,000 after acquiring an additional 303,545 shares in the last quarter. Norges Bank purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth $191,247,000. Charles Schwab Investment Management Inc. boosted its position in Frontier Communications Parent by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock valued at $80,615,000 after purchasing an additional 12,251 shares in the last quarter. Magnetar Financial LLC grew its stake in Frontier Communications Parent by 37.7% in the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company's stock valued at $62,926,000 after purchasing an additional 496,750 shares during the last quarter. Finally, Quinn Opportunity Partners LLC raised its holdings in Frontier Communications Parent by 19.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,569,519 shares of the company's stock worth $54,462,000 after purchasing an additional 250,050 shares in the last quarter.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Performance

Shares of FYBR stock opened at $36.12 on Wednesday. The business has a fifty day moving average of $35.85 and a 200 day moving average of $35.43. Frontier Communications Parent, Inc. has a 1 year low of $21.84 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -28.00 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Analyst Ratings Changes

FYBR has been the topic of a number of analyst reports. New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to 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.

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