45,631 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 45,631 shares of the company's stock, valued at approximately $1,583,000.

Other hedge funds also recently added to or reduced their stakes in the company. Anthracite Investment Company Inc. purchased a new position in Frontier Communications Parent in the 3rd quarter worth approximately $1,743,000. New York Life Investment Management LLC purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $9,948,000. Charles Schwab Investment Management Inc. raised its holdings in Frontier Communications Parent by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company's stock worth $82,108,000 after acquiring an additional 109,648 shares during the last quarter. Finally, Silphium Asset Management Ltd purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $10,410,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FYBR shares. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Finally, Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.31.

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Frontier Communications Parent Stock Performance

Shares of FYBR stock traded down $0.16 during mid-day trading on Friday, reaching $35.79. 8,585,983 shares of the company's stock traded hands, compared to its average volume of 2,506,548. Frontier Communications Parent, Inc. has a 12 month low of $21.31 and a 12 month high of $39.21. The firm has a 50 day moving average price of $35.78 and a two-hundred day moving average price of $35.41. 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 market capitalization of $8.94 billion, a PE ratio of -27.74 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction on 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 owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Company 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.