Alpine Associates Management Inc. Makes New $9.86 Million Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Alpine Associates Management Inc. purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 277,380 shares of the company's stock, valued at approximately $9,855,000. Alpine Associates Management Inc. owned 0.11% of Frontier Communications Parent as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Frontier Communications Parent during the third quarter worth about $586,000. Redwood Investment Management LLC purchased a new position in shares of Frontier Communications Parent during the first quarter worth approximately $641,000. Luxor Capital Group LP increased its holdings in shares of Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company's stock valued at $73,208,000 after acquiring an additional 43,542 shares during the period. Dimensional Fund Advisors LP raised its position in Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company's stock valued at $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Frontier Communications Parent by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company's stock worth $589,777,000 after purchasing an additional 108,344 shares during the period.

Analysts Set New Price Targets

FYBR has been the topic of several analyst reports. BNP Paribas upgraded Frontier Communications Parent to a "hold" rating in a research note on Monday, October 14th. Moffett Nathanson lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 5th. Citigroup downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an "overweight" rating to a "neutral" rating and increased their price target for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, Raymond James downgraded Frontier Communications Parent from a "strong-buy" rating to a "market perform" rating in a research report on Monday, October 28th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.31.

Insider Activity at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the transaction, the executive vice president now owns 121,182 shares of the company's stock, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Trading Down 0.1 %

FYBR stock traded down $0.04 during trading on Wednesday, reaching $34.71. 1,374,951 shares of the stock traded hands, compared to its average volume of 2,243,612. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent, Inc. has a 52-week low of $20.42 and a 52-week high of $39.21. The firm has a market capitalization of $8.64 billion, a PE ratio of -46.33 and a beta of 1.10. The business's 50 day moving average price is $35.45 and its 200-day moving average price is $30.19.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm's revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current 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.