Corebridge Financial Inc. Has $8.71 Million Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Corebridge Financial Inc. decreased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 250,939 shares of the company's stock after selling 10,834 shares during the quarter. Corebridge Financial Inc. owned approximately 0.10% of Frontier Communications Parent worth $8,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FYBR. UMB Bank n.a. raised its holdings 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 buying an additional 425 shares during the last quarter. Quarry LP bought a new position in shares of Frontier Communications Parent in the third quarter worth about $91,000. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Frontier Communications Parent during the fourth quarter valued at approximately $228,000. Finally, Vestcor Inc acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at approximately $234,000.

Wall Street Analyst Weigh In

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

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Frontier Communications Parent Trading Up 0.1 %

FYBR traded up $0.02 during mid-day trading on Tuesday, hitting $35.88. The stock had a trading volume of 2,980,389 shares, compared to its average volume of 2,582,442. The stock's fifty day simple moving average is $35.82 and its 200-day simple moving average is $35.40. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of -27.81 and a beta of 1.04. Frontier Communications Parent, Inc. has a 1-year low of $21.31 and a 1-year high of $39.21. 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 (NASDAQ:FYBR - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction 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 $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.