Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Taconic Capital Advisors LP

Taconic Capital Advisors LP lessened its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 83.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 468,693 shares of the company's stock after selling 2,387,494 shares during the period. Frontier Communications Parent comprises 8.9% of Taconic Capital Advisors LP's portfolio, making the stock its 3rd largest position. Taconic Capital Advisors LP owned 0.19% of Frontier Communications Parent worth $16,653,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FYBR. Dimensional Fund Advisors LP grew its position in shares of Frontier Communications Parent by 24.4% during 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. Columbus Hill Capital Management L.P. grew its holdings in shares of Frontier Communications Parent by 345.7% during the second quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company's stock valued at $11,670,000 after purchasing an additional 345,744 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of Frontier Communications Parent during the 3rd quarter worth approximately $9,855,000. Marshall Wace LLP lifted its holdings in shares of Frontier Communications Parent by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 420,227 shares of the company's stock worth $11,002,000 after purchasing an additional 139,215 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Frontier Communications Parent by 106.9% during the 3rd quarter. Citigroup Inc. now owns 239,893 shares of the company's stock valued at $8,523,000 after purchasing an additional 123,939 shares during the period.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was 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 directly owns 121,182 shares of the company's stock, valued at $4,223,192.70. This trade represents a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Wolfe Research lowered shares of Frontier Communications Parent from an "outperform" rating to a "peer perform" rating in a research note on Monday, September 30th. Moffett Nathanson lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut Frontier Communications Parent from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Frontier Communications Parent currently has an average rating of "Hold" and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

NASDAQ FYBR traded up $0.03 on Friday, reaching $34.81. 1,002,354 shares of the stock traded hands, compared to its average volume of 2,240,841. Frontier Communications Parent, Inc. has a 12 month low of $20.51 and a 12 month high of $39.21. The company has a market cap of $8.67 billion, a price-to-earnings ratio of -46.41 and a beta of 1.10. The firm's fifty day simple moving average is $35.31 and its 200 day simple moving average is $30.56. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned $0.05 EPS. The company's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

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.