Victory Capital Management Inc. Lowers Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Victory Capital Management Inc. decreased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,494 shares of the company's stock after selling 9,035 shares during the period. Victory Capital Management Inc.'s holdings in Frontier Communications Parent were worth $1,995,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FYBR. Slotnik Capital LLC purchased a new stake in shares of Frontier Communications Parent in the third quarter valued at approximately $34,286,000. Alberta Investment Management Corp purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth $24,863,000. Sand Grove Capital Management LLP acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at about $18,490,000. Anchorage Capital Advisors L.P. boosted its holdings in Frontier Communications Parent by 26.6% during the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company's stock worth $61,451,000 after buying an additional 362,888 shares in the last quarter. Finally, Silphium Asset Management Ltd purchased a new position in Frontier Communications Parent in the fourth quarter valued at about $10,410,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FYBR shares. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, New Street Research downgraded shares of 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 given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $35.31.

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Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Frontier Communications Parent Trading Down 0.5 %

NASDAQ FYBR traded down $0.17 during mid-day trading on Friday, reaching $35.79. 7,605,520 shares of the stock were exchanged, compared to its average volume of 2,500,636. The business's fifty day simple moving average is $35.77 and its 200 day simple moving average is $35.31. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $8.94 billion, a PE ratio of -27.74 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.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) 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 analysts' expectations of $1.47 billion. On average, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

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.