Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells $1,296,360.00 in Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) EVP John Harrobin sold 36,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $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 accessible through this hyperlink.

Frontier Communications Parent Price Performance

Shares of FYBR stock traded up $0.05 during mid-day trading on Friday, reaching $36.05. The stock had a trading volume of 1,791,572 shares, compared to its average volume of 2,370,754. Frontier Communications Parent, Inc. has a 12-month low of $21.31 and a 12-month high of $39.21. 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 $35.62 and a 200 day simple moving average of $34.91. The company has a market cap of $9.00 billion, a P/E ratio of -27.95 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Remove Ads

Institutional Investors Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its position in 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. Capital Performance Advisors LLP purchased a new stake in Frontier Communications Parent during the 3rd quarter worth about $50,000. Meeder Asset Management Inc. acquired a new position in Frontier Communications Parent in the 3rd quarter valued at about $52,000. Farther Finance Advisors LLC lifted its holdings in Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company's stock valued at $64,000 after purchasing an additional 811 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Frontier Communications Parent in the 4th quarter valued at about $76,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. New Street Research cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Finally, Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One investment 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.31.

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.