Picton Mahoney Asset Management Invests $25.16 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Picton Mahoney Asset Management acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 725,000 shares of the company's stock, valued at approximately $25,157,000. Frontier Communications Parent accounts for 0.7% of Picton Mahoney Asset Management's investment portfolio, making the stock its 23rd largest holding. Picton Mahoney Asset Management owned 0.29% of Frontier Communications Parent as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FYBR. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Frontier Communications Parent in the fourth quarter worth approximately $2,002,000. Vestcor Inc purchased a new stake in shares of Frontier Communications Parent in the fourth quarter worth approximately $234,000. Swiss National Bank grew its stake in Frontier Communications Parent by 7.7% in the fourth quarter. Swiss National Bank now owns 391,800 shares of the company's stock worth $13,595,000 after purchasing an additional 27,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Frontier Communications Parent by 5.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,087 shares of the company's stock worth $697,000 after purchasing an additional 1,116 shares in the last quarter. Finally, AGF Management Ltd. bought a new position in Frontier Communications Parent in the fourth quarter worth approximately $2,601,000.

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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 stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Stock Performance

FYBR stock remained flat at $35.77 during midday trading on Wednesday. The company had a trading volume of 5,370,100 shares, compared to its average volume of 2,470,477. The firm has a market cap of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a 50-day simple moving average of $35.75 and a two-hundred day simple moving average of $35.30. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its earnings results 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). The firm had revenue of $1.51 billion during 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, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FYBR shares. Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. 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 equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.