Prudential Financial Inc. Sells 64,642 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Prudential Financial Inc. cut its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 78.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,572 shares of the company's stock after selling 64,642 shares during the period. Prudential Financial Inc.'s holdings in Frontier Communications Parent were worth $613,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors increased its stake in Frontier Communications Parent by 6.5% during the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company's stock worth $339,000 after acquiring an additional 581 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Frontier Communications Parent in the 3rd quarter worth approximately $1,990,000. National Bank of Canada FI increased its position in shares of Frontier Communications Parent by 73.8% during the 3rd quarter. National Bank of Canada FI now owns 57,797 shares of the company's stock valued at $2,054,000 after purchasing an additional 24,542 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Frontier Communications Parent during the 3rd quarter valued at approximately $618,000. Finally, Barclays PLC raised its holdings in Frontier Communications Parent by 39.7% during the 3rd quarter. Barclays PLC now owns 99,969 shares of the company's stock valued at $3,553,000 after buying an additional 28,417 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Trading Down 0.2 %

Shares of Frontier Communications Parent stock traded down $0.06 on Friday, hitting $35.88. 2,329,683 shares of the company traded hands, compared to its average volume of 2,668,551. 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 company has a market cap of $8.96 billion, a PE ratio of -27.81 and a beta of 1.01. The stock's 50 day moving average price is $35.82 and its 200-day moving average price is $35.41. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week 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 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Equities research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insider Buying and Selling

In other news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % 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 insiders.

About Frontier Communications Parent

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.