Mint Tower Capital Management B.V. Makes New Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mint Tower Capital Management B.V. bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 51,075 shares of the company's stock, valued at approximately $1,772,000.

Other large investors have also modified their holdings of the company. UMB Bank n.a. grew its holdings 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 acquiring an additional 425 shares during the period. Quarry LP acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth $91,000. Blue Trust Inc. increased its holdings in shares of Frontier Communications Parent by 36.8% in the 4th 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 acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at about $228,000. Finally, Neo Ivy Capital Management purchased a new stake in Frontier Communications Parent during the third quarter worth about $240,000.

Insiders Place Their Bets

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Remove Ads

Frontier Communications Parent Price Performance

Frontier Communications Parent stock traded up $0.04 during midday trading on Monday, reaching $35.93. 593,023 shares of the company were exchanged, compared to its average volume of 2,568,010. The firm's 50-day simple moving average is $35.82 and its 200-day simple moving average is $35.40. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of -27.85 and a beta of 1.04. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

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

Analysts Set New Price Targets

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

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.