Yakira Capital Management Inc. Makes New Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Yakira Capital Management Inc. bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,700 shares of the company's stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FYBR. Vanguard Group Inc. lifted its holdings in shares of Frontier Communications Parent by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock worth $842,412,000 after buying an additional 303,545 shares during the last quarter. Norges Bank bought a new position in Frontier Communications Parent during the fourth quarter worth $191,247,000. Charles Schwab Investment Management Inc. raised its stake in Frontier Communications Parent by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock valued at $80,615,000 after purchasing an additional 12,251 shares during the last quarter. Magnetar Financial LLC raised its position in shares of Frontier Communications Parent by 37.7% during the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company's stock valued at $62,926,000 after buying an additional 496,750 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Frontier Communications Parent by 411.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock valued at $54,145,000 after acquiring an additional 1,255,180 shares during the period.

Frontier Communications Parent Price Performance

Shares of FYBR traded down $0.05 during trading hours on Friday, hitting $35.90. The stock had a trading volume of 1,127,807 shares, compared to its average volume of 2,649,981. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -27.83 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The company's fifty day moving average is $35.82 and its two-hundred day moving average is $35.41. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week high of $39.21.

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 the consensus estimate of ($0.19) by ($0.28). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. On average, analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale 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 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.