FORA Capital LLC Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

FORA Capital LLC acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 64,715 shares of the company's stock, valued at approximately $2,299,000.

A number of other large investors have also bought and sold shares of FYBR. Dimensional Fund Advisors LP raised its position in Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company's stock valued at $211,758,000 after buying an additional 1,587,145 shares during the last quarter. Luxor Capital Group LP raised its holdings in shares of Frontier Communications Parent by 1.6% in the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company's stock valued at $73,208,000 after purchasing an additional 43,542 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company's stock worth $82,108,000 after purchasing an additional 109,648 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Frontier Communications Parent by 4.1% in the second quarter. American Century Companies Inc. now owns 2,005,937 shares of the company's stock worth $52,515,000 after purchasing an additional 79,265 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Frontier Communications Parent by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 1,874,245 shares of the company's stock worth $49,068,000 after purchasing an additional 51,133 shares during the last quarter.

Wall Street Analyst Weigh In

FYBR has been the topic of several analyst reports. Citigroup cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. Moffett Nathanson downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 5th. UBS Group lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 6th. Benchmark reissued a "buy" rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Finally, BNP Paribas upgraded shares of Frontier Communications Parent to a "hold" rating in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Frontier Communications Parent presently has an average rating of "Hold" and an average target price of $35.31.

Frontier Communications Parent Stock Performance

FYBR stock traded down $0.06 during trading hours on Thursday, hitting $34.78. 995,629 shares of the stock were exchanged, compared to its average volume of 2,246,226. Frontier Communications Parent, Inc. has a 12 month low of $20.42 and a 12 month 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. The firm has a market capitalization of $8.66 billion, a P/E ratio of -46.37 and a beta of 1.10. The company has a 50-day simple moving average of $35.33 and a two-hundred day simple moving average of $30.50.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The business had revenue of $1.49 billion for 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 revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Frontier Communications Parent

In related 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 transaction of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares of the company's stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate 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.