Skandinaviska Enskilda Banken AB publ Takes $2 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Skandinaviska Enskilda Banken AB publ purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,700 shares of the company's stock, valued at approximately $2,002,000.

Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in Frontier Communications Parent during the third quarter worth $586,000. Victory Capital Management Inc. lifted its stake in Frontier Communications Parent by 4.2% during the third quarter. Victory Capital Management Inc. now owns 66,529 shares of the company's stock worth $2,364,000 after purchasing an additional 2,669 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Frontier Communications Parent during the third quarter worth $499,000. CIBC Asset Management Inc acquired a new position in Frontier Communications Parent during the third quarter worth $255,000. Finally, Natixis Advisors LLC increased its position in shares of Frontier Communications Parent by 10.4% during the third quarter. Natixis Advisors LLC now owns 18,851 shares of the company's stock worth $670,000 after acquiring an additional 1,778 shares during the period.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded up $0.18 during mid-day trading on Thursday, reaching $35.95. The stock had a trading volume of 4,058,825 shares, compared to its average volume of 2,475,735. 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 $8.98 billion, a price-to-earnings ratio of -27.87 and a beta of 1.04. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The business has a 50 day simple moving average of $35.76 and a 200 day simple moving average of $35.31.

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Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the transaction, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FYBR. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. 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. Finally, Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent currently has an average rating of "Hold" and a consensus price target of $35.31.

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.