Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 73.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,502 shares of the company's stock after selling 215,829 shares during the quarter. Wells Fargo & Company MN's holdings in Frontier Communications Parent were worth $2,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Frontier Communications Parent by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock valued at $842,412,000 after purchasing an additional 303,545 shares in the last quarter. Norges Bank purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $191,247,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Frontier Communications Parent by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock valued at $80,615,000 after buying an additional 12,251 shares in the last quarter. Magnetar Financial LLC grew its position in shares of Frontier Communications Parent by 37.7% in the 4th quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company's stock valued at $62,926,000 after buying an additional 496,750 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Frontier Communications Parent by 411.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock worth $54,145,000 after acquiring an additional 1,255,180 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the firm's 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 sale, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock traded up $0.02 during mid-day trading on Monday, reaching $36.25. 1,836,752 shares of the company were exchanged, compared to its average volume of 2,676,190. The firm has a market cap of $9.07 billion, a PE ratio of -28.10 and a beta of 1.01. 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 firm's 50-day simple moving average is $35.88 and its two-hundred day simple moving average is $35.45. Frontier Communications Parent, Inc. has a twelve month low of $22.80 and a twelve month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

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.