Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Capital World Investors

Capital World Investors reduced its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the company's stock after selling 150,000 shares during the period. Capital World Investors owned approximately 0.10% of Frontier Communications Parent worth $8,675,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Barclays PLC boosted its holdings in Frontier Communications Parent by 39.7% in the third quarter. Barclays PLC now owns 99,969 shares of the company's stock valued at $3,553,000 after purchasing an additional 28,417 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Frontier Communications Parent by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock valued at $1,588,000 after purchasing an additional 372 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $261,000. Wedmont Private Capital boosted its stake in shares of Frontier Communications Parent by 82.3% during the 4th quarter. Wedmont Private Capital now owns 27,882 shares of the company's stock valued at $979,000 after buying an additional 12,590 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock worth $36,000 after buying an additional 425 shares in the last quarter.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded up $0.02 during trading hours on Friday, reaching $36.23. The company's stock had a trading volume of 1,435,218 shares, compared to its average volume of 2,666,744. 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 business has a 50-day simple moving average of $35.87 and a 200 day simple moving average of $35.45. Frontier Communications Parent, Inc. has a 52 week low of $21.85 and a 52 week high of $39.21. The stock has a market cap of $9.07 billion, a PE ratio of -28.09 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 6.25% and a negative net margin of 5.42%. Equities research analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on FYBR. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Frontier Communications Parent currently has a consensus rating of "Hold" and an average price target of $36.07.

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.