Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by Magnetar Financial LLC

Magnetar Financial LLC boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 37.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,813,443 shares of the company's stock after purchasing an additional 496,750 shares during the period. Frontier Communications Parent makes up 1.5% of Magnetar Financial LLC's portfolio, making the stock its 18th biggest position. Magnetar Financial LLC owned 0.73% of Frontier Communications Parent worth $62,926,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 425 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent in the third quarter valued at about $52,000. Quarry LP acquired a new stake in Frontier Communications Parent during the 3rd quarter valued at approximately $91,000. Blue Trust Inc. increased its holdings in Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after purchasing an additional 1,581 shares during the last quarter. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $228,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FYBR shares. New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $35.31.

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Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded down $0.03 during mid-day trading on Monday, hitting $35.76. The company had a trading volume of 2,991,368 shares, compared to its average volume of 2,508,487. Frontier Communications Parent, Inc. has a 12 month low of $21.31 and a 12 month high of $39.21. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of -27.72 and a beta of 1.04. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm's 50 day simple moving average is $35.78 and its two-hundred day simple moving average is $35.39.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, equities research 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 other news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

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.