Anthracite Investment Company Inc. Buys New Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Anthracite Investment Company Inc. purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 49,062 shares of the company's stock, valued at approximately $1,743,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Frontier Communications Parent in the 2nd quarter worth about $37,000. Capital Performance Advisors LLP purchased a new position in Frontier Communications Parent during the 3rd quarter valued at $50,000. Meeder Asset Management Inc. bought a new stake in shares of Frontier Communications Parent in the 3rd quarter worth approximately $52,000. Farther Finance Advisors LLC boosted its stake in shares of Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company's stock worth $64,000 after buying an additional 811 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company's stock valued at $55,000 after purchasing an additional 2,244 shares during the period.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent 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 completion of the sale, the executive vice president now directly owns 121,182 shares of the company's stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Frontier Communications Parent Price Performance

Shares of FYBR stock traded down $0.05 during trading hours on Wednesday, hitting $34.70. 2,306,213 shares of the company's stock were exchanged, compared to its average volume of 2,248,201. 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 stock has a market cap of $8.64 billion, a price-to-earnings ratio of -46.33 and a beta of 1.10. The stock's 50-day moving average is $35.45 and its 200-day moving average is $30.19.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released 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). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Frontier Communications Parent's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FYBR shares. TD Cowen lowered shares of Frontier Communications Parent from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Raymond James cut shares of Frontier Communications Parent from a "strong-buy" rating to a "market perform" rating in a research report on Monday, October 28th. BNP Paribas upgraded Frontier Communications Parent to a "hold" rating in a research report on Monday, October 14th. Finally, Moffett Nathanson cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Frontier Communications Parent has a consensus rating of "Hold" and a consensus price target of $35.31.

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.