Amundi Purchases 695,109 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Amundi raised its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 1,363.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 746,109 shares of the company's stock after purchasing an additional 695,109 shares during the period. Amundi owned 0.30% of Frontier Communications Parent worth $26,345,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FYBR. Oregon Public Employees Retirement Fund boosted its stake in Frontier Communications Parent by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock worth $1,565,000 after purchasing an additional 344 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Frontier Communications Parent by 0.8% in the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock worth $1,588,000 after buying an additional 372 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Frontier Communications Parent by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock worth $263,000 after buying an additional 377 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Frontier Communications Parent by 68.0% in the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after acquiring an additional 425 shares during the period. Finally, Captrust Financial Advisors grew its stake in Frontier Communications Parent by 6.5% during the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company's stock valued at $339,000 after acquiring an additional 581 shares in the last quarter.

Remove Ads

Frontier Communications Parent Price Performance

Shares of FYBR traded down $0.08 during midday trading on Monday, reaching $35.76. The stock had a trading volume of 6,871,603 shares, compared to its average volume of 2,443,536. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of -27.72 and a beta of 1.04. The company's 50-day moving average is $35.72 and its 200 day moving average is $35.20. Frontier Communications Parent, Inc. has a 12-month low of $21.31 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share 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 during the quarter, compared to the consensus estimate of $1.47 billion. On average, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction dated 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 approximately $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 accessible through this link. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Company 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.