Solus Alternative Asset Management LP Has $56.62 Million Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Solus Alternative Asset Management LP lowered its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 18.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,593,498 shares of the company's stock after selling 350,000 shares during the quarter. Frontier Communications Parent makes up approximately 16.1% of Solus Alternative Asset Management LP's investment portfolio, making the stock its 2nd largest position. Solus Alternative Asset Management LP owned 0.64% of Frontier Communications Parent worth $56,617,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FYBR. Russell Investments Group Ltd. grew its position in Frontier Communications Parent by 140.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company's stock worth $103,000 after acquiring an additional 2,461 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Frontier Communications Parent by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 118,907 shares of the company's stock worth $2,914,000 after purchasing an additional 7,602 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Frontier Communications Parent by 23.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 105,000 shares of the company's stock valued at $2,587,000 after buying an additional 20,000 shares during the period. NBC Securities Inc. raised its holdings in Frontier Communications Parent by 20.9% in the 2nd quarter. NBC Securities Inc. now owns 105,912 shares of the company's stock valued at $2,772,000 after buying an additional 18,331 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Frontier Communications Parent by 117.1% in the 2nd quarter. SG Americas Securities LLC now owns 14,745 shares of the company's stock valued at $386,000 after buying an additional 7,952 shares during the last quarter.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FYBR has been the subject of several recent research reports. Wells Fargo & Company restated an "equal weight" rating and issued a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Wolfe Research downgraded Frontier Communications Parent from an "outperform" rating to a "peer perform" rating in a report on Monday, September 30th. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Benchmark reissued a "buy" rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group raised their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.31.

Frontier Communications Parent Trading Up 0.1 %

Shares of Frontier Communications Parent stock traded up $0.03 on Friday, hitting $34.81. 1,002,354 shares of the company's stock traded hands, compared to its average volume of 2,240,841. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of -46.41 and a beta of 1.10. Frontier Communications Parent, Inc. has a one year low of $20.51 and a one year 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 company has a fifty day moving average of $35.31 and a two-hundred day moving average of $30.56.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its 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 net margin of 3.19% and a negative return on equity of 3.61%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The business's quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

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.