DLD Asset Management LP Acquires 107,027 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

DLD Asset Management LP increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 252.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,437 shares of the company's stock after buying an additional 107,027 shares during the period. Frontier Communications Parent accounts for about 0.6% of DLD Asset Management LP's investment portfolio, making the stock its 22nd biggest holding. DLD Asset Management LP owned approximately 0.06% of Frontier Communications Parent worth $5,185,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. New York Life Investment Management LLC bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth $9,948,000. Raymond James Financial Inc. bought a new stake in Frontier Communications Parent in the fourth quarter valued at about $2,065,000. Alpine Associates Management Inc. lifted its stake in Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock valued at $36,179,000 after buying an additional 765,250 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Frontier Communications Parent during the 4th quarter worth about $1,583,000.

Insider Buying and Selling

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated Monday, March 3rd. The shares were 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 trade represents a 31.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Stock Down 0.3 %

NASDAQ:FYBR traded down $0.11 on Monday, hitting $35.53. 3,001,110 shares of the company's stock were exchanged, compared to its average volume of 2,613,064. The firm has a 50-day moving average price of $35.83 and a 200-day moving average price of $35.40. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week 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. The company has a market cap of $8.87 billion, a P/E ratio of -27.54 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). The company had revenue of $1.51 billion during 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, analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

FYBR has been the topic of a number of analyst reports. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.31.

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.