MetLife Investment Management LLC Increases Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

MetLife Investment Management LLC raised its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,349 shares of the company's stock after acquiring an additional 10,591 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of Frontier Communications Parent worth $4,350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth about $191,247,000. FIL Ltd bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $49,228,000. Alliancebernstein L.P. increased its stake in shares of Frontier Communications Parent by 411.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock valued at $54,145,000 after buying an additional 1,255,180 shares during the period. Highbridge Capital Management LLC raised its holdings in shares of Frontier Communications Parent by 375.0% during the fourth quarter. Highbridge Capital Management LLC now owns 1,084,546 shares of the company's stock valued at $37,634,000 after acquiring an additional 856,218 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its stake in Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock worth $36,179,000 after acquiring an additional 765,250 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FYBR. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Raymond James downgraded shares of 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 report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Price Performance

FYBR stock opened at $36.21 on Friday. 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 has a 50 day moving average price of $35.87 and a 200-day moving average price of $35.45. Frontier Communications Parent, Inc. has a 52-week low of $21.85 and a 52-week high of $39.21. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of -28.07 and a beta of 1.01.

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

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent 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 approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

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.

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