Intech Investment Management LLC Makes New $532,000 Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Intech Investment Management LLC acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 15,321 shares of the company's stock, valued at approximately $532,000.

Several other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock worth $36,000 after acquiring an additional 425 shares during the last quarter. Quarry LP acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $91,000. Blue Trust Inc. grew its stake in Frontier Communications Parent by 36.8% in the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in Frontier Communications Parent during the fourth quarter worth $228,000. Finally, Vestcor Inc acquired a new stake in Frontier Communications Parent in the 4th quarter valued at about $234,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on FYBR. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Frontier Communications Parent currently has a consensus rating of "Hold" and a consensus price target of $35.31.

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Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded down $0.02 during mid-day trading on Friday, hitting $35.89. The company had a trading volume of 1,854,023 shares, compared to its average volume of 2,569,266. The stock's 50-day moving average price is $35.81 and its 200-day moving average price is $35.40. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of -27.82 and a beta of 1.04. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. 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 released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the 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 directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company's stock.

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.