Cinctive Capital Management LP Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Cinctive Capital Management LP bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 570,000 shares of the company's stock, valued at approximately $19,779,000. Frontier Communications Parent makes up 1.0% of Cinctive Capital Management LP's investment portfolio, making the stock its 16th biggest holding. Cinctive Capital Management LP owned 0.23% of Frontier Communications Parent as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. grew its holdings in shares of Frontier Communications Parent by 68.0% in the 4th 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 in the last quarter. Quarry LP bought a new position in shares of Frontier Communications Parent in the third quarter valued at $91,000. Blue Trust Inc. increased its holdings in Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after buying an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in Frontier Communications Parent during the fourth quarter worth $228,000. Finally, Vestcor Inc acquired a new stake in Frontier Communications Parent in the fourth quarter valued at $234,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Raymond James lowered shares of 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 two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Frontier Communications Parent presently has an average rating of "Hold" and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock traded down $0.11 during trading hours on Monday, reaching $35.53. 3,001,110 shares of the stock were exchanged, compared to its average volume of 2,613,064. 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, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The company has a market cap of $8.87 billion, a P/E ratio of -27.54 and a beta of 1.01. The stock has a 50 day moving average of $35.83 and a two-hundred day moving average of $35.40.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly 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). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Equities analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

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 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 transaction, the executive vice president now owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company's stock.

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.