Bank of New York Mellon Corp Reduces Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Bank of New York Mellon Corp reduced its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,635,856 shares of the company's stock after selling 33,917 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Frontier Communications Parent worth $56,764,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of Frontier Communications Parent by 0.8% during the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock valued at $1,588,000 after buying an additional 372 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock valued at $263,000 after buying an additional 377 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after buying an additional 425 shares during the last quarter. Jag Capital Management LLC boosted its position in shares of Frontier Communications Parent by 5.2% during the third quarter. Jag Capital Management LLC now owns 9,010 shares of the company's stock valued at $320,000 after buying an additional 445 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of 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 buying an additional 581 shares during the last quarter.

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Analyst Ratings Changes

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

Frontier Communications Parent Price Performance

FYBR traded up $0.05 on Friday, hitting $36.05. 1,791,572 shares of the company's stock traded hands, compared to its average volume of 2,367,429. The company's 50 day simple moving average is $35.59 and its 200-day simple moving average is $34.82. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of -27.95 and a beta of 1.04. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. 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 (NASDAQ:FYBR - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

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.