National Bank of Canada FI Boosts Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

National Bank of Canada FI increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 73.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,797 shares of the company's stock after acquiring an additional 24,542 shares during the quarter. National Bank of Canada FI's holdings in Frontier Communications Parent were worth $2,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company's stock worth $211,758,000 after buying an additional 1,587,145 shares in the last quarter. Slotnik Capital LLC purchased a new stake in Frontier Communications Parent in the third quarter valued at approximately $34,286,000. Sand Grove Capital Management LLP bought a new stake in Frontier Communications Parent during the third quarter valued at approximately $18,490,000. Anchorage Capital Advisors L.P. lifted its position in Frontier Communications Parent by 26.6% during the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company's stock valued at $61,451,000 after purchasing an additional 362,888 shares during the last quarter. Finally, Columbus Hill Capital Management L.P. lifted its holdings in shares of Frontier Communications Parent by 345.7% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company's stock worth $11,670,000 after acquiring an additional 345,744 shares during the last quarter.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded down $0.01 on Friday, hitting $34.65. The stock had a trading volume of 4,246,617 shares, compared to its average volume of 2,267,943. The business's 50-day simple moving average is $35.11 and its two-hundred day simple moving average is $31.20. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of -46.20 and a beta of 1.05. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

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

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

FYBR has been the subject of a number of research reports. TD Cowen cut shares of Frontier Communications Parent from a "buy" rating to a "hold" rating and cut their price objective for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Citigroup downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. Benchmark lowered Frontier Communications Parent from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. BNP Paribas upgraded shares of Frontier Communications Parent to a "hold" rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered 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 report on Tuesday, September 17th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Frontier Communications Parent currently has an average rating of "Hold" and an average 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.