Wellington Management Group LLP Buys Shares of 149,800 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Wellington Management Group LLP acquired a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 149,800 shares of the company's stock, valued at approximately $5,198,000. Wellington Management Group LLP owned 0.06% of Frontier Communications Parent as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Captrust Financial Advisors lifted its position in Frontier Communications Parent by 6.5% in the 3rd quarter. Captrust Financial Advisors now owns 9,540 shares of the company's stock valued at $339,000 after acquiring an additional 581 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Frontier Communications Parent by 73.8% in the 3rd quarter. National Bank of Canada FI now owns 57,797 shares of the company's stock worth $2,054,000 after acquiring an additional 24,542 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Frontier Communications Parent in the third quarter valued at about $618,000. Barclays PLC lifted its position in shares of Frontier Communications Parent by 39.7% during the third quarter. Barclays PLC now owns 99,969 shares of the company's stock valued at $3,553,000 after purchasing an additional 28,417 shares in the last quarter. Finally, M&T Bank Corp increased its stake 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 buying an additional 750 shares during the last quarter.

Insiders Place Their Bets

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

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded up $0.03 on Wednesday, reaching $35.86. The stock had a trading volume of 141,324 shares, compared to its average volume of 2,652,974. The stock has a market cap of $8.97 billion, a P/E ratio of -27.79 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The company has a 50 day simple moving average of $35.82 and a 200 day simple moving average of $35.41.

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). The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FYBR shares. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Raymond James lowered Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.07.

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.