NBC Securities Inc. Sells 36,157 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

NBC Securities Inc. cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 34.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,755 shares of the company's stock after selling 36,157 shares during the period. NBC Securities Inc.'s holdings in Frontier Communications Parent were worth $2,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC purchased a new stake in Frontier Communications Parent in the 2nd quarter worth about $37,000. Game Plan Financial Advisors LLC grew its position in Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company's stock valued at $51,000 after purchasing an additional 1,600 shares during the last quarter. Blue Trust Inc. boosted its holdings in Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company's stock worth $55,000 after purchasing an additional 2,244 shares during the last quarter. GAMMA Investing LLC raised its holdings in Frontier Communications Parent by 100.9% in the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company's stock worth $62,000 after purchasing an additional 1,267 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Frontier Communications Parent by 140.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company's stock worth $103,000 after purchasing an additional 2,461 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen cut shares of Frontier Communications Parent from a "buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. UBS Group lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 6th. The Goldman Sachs Group lifted their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Finally, Wolfe Research downgraded Frontier Communications Parent from an "outperform" rating to a "peer perform" rating in a research note on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $35.31.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded up $0.46 during mid-day trading on Tuesday, hitting $35.71. 8,826,035 shares of the stock were exchanged, compared to its average volume of 2,064,918. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. Frontier Communications Parent, Inc. has a fifty-two week low of $16.29 and a fifty-two week high of $39.21. The firm's 50-day simple moving average is $32.74 and its 200 day simple moving average is $28.08. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 324.64 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.38). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. As a group, equities analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 EPS for the current fiscal year.

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.