Stifel Financial Corp Reduces Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Stifel Financial Corp reduced its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 54.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,260 shares of the company's stock after selling 47,301 shares during the period. Stifel Financial Corp's holdings in Frontier Communications Parent were worth $1,430,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FYBR. Raymond James & Associates grew its stake in Frontier Communications Parent by 7.0% during the second quarter. Raymond James & Associates now owns 56,833 shares of the company's stock valued at $1,488,000 after acquiring an additional 3,728 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Frontier Communications Parent in the second quarter worth $185,000. Bank of New York Mellon Corp raised its position in shares of Frontier Communications Parent by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 1,874,245 shares of the company's stock worth $49,068,000 after buying an additional 51,133 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Frontier Communications Parent by 10.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,913 shares of the company's stock valued at $1,071,000 after buying an additional 3,790 shares during the period. Finally, Innealta Capital LLC purchased a new position in Frontier Communications Parent during the second quarter worth about $222,000.

Frontier Communications Parent Trading Down 0.3 %

Frontier Communications Parent stock traded down $0.10 during mid-day trading on Friday, hitting $34.65. The company's stock had a trading volume of 4,335,266 shares, compared to its average volume of 2,301,124. The business has a 50 day moving average price of $35.05 and a 200-day moving average price of $31.53. Frontier Communications Parent, Inc. has a 12 month low of $20.51 and a 12 month high of $39.21. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of -46.20 and a beta of 1.05. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share 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 company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $0.05 EPS. The company's revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on FYBR. Citigroup cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. UBS Group cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 6th. Moffett Nathanson lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Finally, BNP Paribas raised Frontier Communications Parent to a "hold" rating in a research note on Monday, October 14th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Frontier Communications Parent currently has an average rating of "Hold" and a consensus target price of $35.31.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company's stock.

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.