Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by TCW Group Inc.

TCW Group Inc. reduced its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,695 shares of the company's stock after selling 144,005 shares during the period. TCW Group Inc. owned about 0.20% of Frontier Communications Parent worth $17,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Frontier Communications Parent during the third quarter worth $240,000. M&T Bank Corp boosted its holdings in Frontier Communications Parent by 4.2% in the 3rd quarter. M&T Bank Corp now owns 18,703 shares of the company's stock valued at $664,000 after purchasing an additional 750 shares in the last quarter. Barclays PLC increased its position in Frontier Communications Parent by 39.7% during the 3rd quarter. Barclays PLC now owns 99,969 shares of the company's stock worth $3,553,000 after purchasing an additional 28,417 shares during the period. XTX Topco Ltd acquired a new position in Frontier Communications Parent during the third quarter worth $618,000. Finally, National Bank of Canada FI grew its stake in shares of Frontier Communications Parent by 73.8% during the 3rd quarter. National Bank of Canada FI now owns 57,797 shares of the company's stock worth $2,054,000 after purchasing an additional 24,542 shares during the period.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 23,491 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Stock Up 0.1 %

Shares of NASDAQ FYBR traded up $0.02 during midday trading on Thursday, reaching $34.66. 1,504,029 shares of the company's stock were exchanged, compared to its average volume of 2,260,086. The stock has a market capitalization of $8.63 billion, a PE ratio of -46.21 and a beta of 1.05. 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 quick ratio of 0.77 and a current ratio of 0.77. The business's fifty day moving average price is $35.12 and its two-hundred day moving average price is $31.13.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $0.05 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FYBR shares. Citigroup downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Wells Fargo & Company restated an "equal weight" rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. 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. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, Benchmark lowered Frontier Communications Parent from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.