520,406 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Acquired by Sand Grove Capital Management LLP

Sand Grove Capital Management LLP acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 520,406 shares of the company's stock, valued at approximately $18,490,000. Frontier Communications Parent comprises approximately 7.2% of Sand Grove Capital Management LLP's portfolio, making the stock its 7th largest position. Sand Grove Capital Management LLP owned 0.21% of Frontier Communications Parent as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FYBR. International Assets Investment Management LLC acquired a new position in Frontier Communications Parent in the second quarter worth about $37,000. Capital Performance Advisors LLP purchased a new stake in Frontier Communications Parent in the 3rd quarter worth about $50,000. Meeder Asset Management Inc. acquired a new position in Frontier Communications Parent in the third quarter worth approximately $52,000. Blue Trust Inc. boosted its position in Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company's stock worth $55,000 after purchasing an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company's stock worth $64,000 after purchasing an additional 811 shares during the period.

Analyst Ratings Changes

Several brokerages recently commented on FYBR. Raymond James lowered Frontier Communications Parent from a "strong-buy" rating to a "market perform" rating in a research note on Monday, October 28th. TD Cowen downgraded shares of Frontier Communications Parent from a "buy" rating to a "hold" rating and decreased their price objective for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. UBS Group lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, September 6th. Moffett Nathanson downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 5th. Finally, Citigroup downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $35.31.

Frontier Communications Parent Stock Up 0.1 %

FYBR stock traded up $0.04 during midday trading on Thursday, hitting $34.53. The stock had a trading volume of 2,402,790 shares, compared to its average volume of 2,248,545. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of -45.99 and a beta of 1.05. The business has a 50-day moving average of $35.23 and a two-hundred day moving average of $30.82.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Harrobin sold 23,491 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the sale, the executive vice president now owns 121,182 shares of the company's stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

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.