59,502 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 59,502 shares of the company's stock, valued at approximately $2,065,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alberta Investment Management Corp bought a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $24,863,000. Sand Grove Capital Management LLP acquired a new position in Frontier Communications Parent during the 3rd quarter valued at about $18,490,000. Silphium Asset Management Ltd bought a new stake in Frontier Communications Parent during the 4th quarter worth approximately $10,410,000. SG Americas Securities LLC raised its stake in shares of Frontier Communications Parent by 1,283.8% in the fourth quarter. SG Americas Securities LLC now owns 321,578 shares of the company's stock worth $11,159,000 after purchasing an additional 298,339 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at approximately $9,948,000.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction on 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 transaction, the executive vice president now owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FYBR shares. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. 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. Finally, Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. 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 Stock Performance

FYBR traded down $0.11 during trading on Thursday, hitting $35.94. 2,280,824 shares of the company traded hands, compared to its average volume of 2,590,605. The firm has a market cap of $8.97 billion, a P/E ratio of -27.86 and a beta of 1.04. 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, Inc. has a one year low of $21.31 and a one year high of $39.21. The stock's fifty day moving average is $35.83 and its 200 day moving average is $35.40.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released 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). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 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.