Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391,800 shares of the company's stock after acquiring an additional 27,900 shares during the period. Swiss National Bank owned 0.16% of Frontier Communications Parent worth $13,595,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Frontier Communications Parent by 5.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,087 shares of the company's stock valued at $697,000 after acquiring an additional 1,116 shares during the last quarter. AGF Management Ltd. purchased a new stake in Frontier Communications Parent in the 4th quarter worth about $2,601,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Frontier Communications Parent by 17.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,225 shares of the company's stock worth $1,673,000 after purchasing an additional 7,312 shares during the period. Alpine Associates Management Inc. raised its position in Frontier Communications Parent by 275.9% in the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock worth $36,179,000 after purchasing an additional 765,250 shares during the period. Finally, Amundi raised its position in Frontier Communications Parent by 1,363.0% in the 4th quarter. Amundi now owns 746,109 shares of the company's stock worth $26,345,000 after purchasing an additional 695,109 shares during the period.

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Wall Street Analyst Weigh In

A number of analysts recently weighed in on FYBR shares. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. 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 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's stock. According to MarketBeat.com, Frontier Communications Parent presently has a consensus rating of "Hold" and an average price target of $35.31.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the 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 transaction, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Down 0.4 %

Shares of NASDAQ FYBR traded down $0.16 during midday trading on Friday, reaching $35.79. 8,585,983 shares of the company's stock traded hands, compared to its average volume of 2,506,548. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock's 50 day simple moving average is $35.78 and its 200-day simple moving average is $35.41. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The company has a market cap of $8.94 billion, a price-to-earnings ratio of -27.74 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Frontier Communications Parent Company 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.