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.
Check Out Our Latest Stock Report on Frontier Communications Parent
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
(
Free Report)
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.
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