Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Luxor Capital Group LP

Luxor Capital Group LP cut its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 26.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,052,817 shares of the company's stock after selling 743,515 shares during the quarter. Frontier Communications Parent makes up about 4.6% of Luxor Capital Group LP's holdings, making the stock its 5th biggest position. Luxor Capital Group LP owned approximately 0.82% of Frontier Communications Parent worth $72,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Frontier Communications Parent during the 2nd quarter worth approximately $37,000. Capital Performance Advisors LLP purchased a new position in Frontier Communications Parent in the 3rd quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at $52,000. Farther Finance Advisors LLC boosted its stake in shares of 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, Blue Trust Inc. boosted its stake in shares of Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company's stock valued at $55,000 after purchasing an additional 2,244 shares in the last quarter.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded down $0.05 on Monday, hitting $34.59. 1,190,478 shares of the company's stock traded hands, compared to its average volume of 2,245,364. Frontier Communications Parent, Inc. has a 1-year low of $20.51 and a 1-year high of $39.21. 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 moving average price is $35.19 and its two-hundred day moving average price is $30.96.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wolfe Research lowered shares of Frontier Communications Parent from an "outperform" rating to a "peer perform" rating in a report on Monday, September 30th. Benchmark lowered shares of Frontier Communications Parent from a "buy" rating to a "hold" rating in a report on Friday. UBS Group lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, September 6th. TD Cowen downgraded Frontier Communications Parent from a "buy" rating to a "hold" rating and lowered their price target for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Finally, Citigroup cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $35.31.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 23,491 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

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.