Vanguard Group Inc. Raises Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Vanguard Group Inc. raised its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,277,017 shares of the company's stock after purchasing an additional 303,545 shares during the period. Vanguard Group Inc. owned about 9.75% of Frontier Communications Parent worth $842,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. UMB Bank n.a. increased its holdings in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock worth $36,000 after acquiring an additional 425 shares in the last quarter. Quarry LP acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at about $91,000. Blue Trust Inc. increased its stake in shares of Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Frontier Communications Parent during the 4th quarter worth about $228,000. Finally, Neo Ivy Capital Management purchased a new position in Frontier Communications Parent in the 3rd quarter valued at about $240,000.

Frontier Communications Parent Trading Down 0.3 %

Frontier Communications Parent stock traded down $0.11 during mid-day trading on Thursday, hitting $35.94. The company's stock had a trading volume of 2,280,824 shares, compared to its average volume of 2,590,605. The stock's fifty day moving average is $35.83 and its two-hundred day moving average is $35.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $8.97 billion, a PE ratio of -27.86 and a beta of 1.04. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21.

Remove Ads

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. On average, analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value 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. The trade was a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

FYBR has been the subject of several research reports. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, New Street Research downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. 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. According to MarketBeat.com, Frontier Communications Parent presently 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.