By otakuyassine3@gmail.com 
Proficio Capital Partners LLC acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,631 shares of the company’s stock, valued at approximately $1,583,000.
A number of other hedge funds also recently bought and sold shares of FYBR. Slotnik Capital LLC purchased a new stake in Frontier Communications Parent during the third quarter valued at about $34,286,000. Alberta Investment Management Corp purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $24,863,000. Sand Grove Capital Management LLP purchased a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at approximately $18,490,000. Anchorage Capital Advisors L.P. lifted its holdings in shares of Frontier Communications Parent by 26.6% in the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock valued at $61,451,000 after purchasing an additional 362,888 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Frontier Communications Parent by 1,283.8% in the fourth quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock valued at $11,159,000 after purchasing an additional 298,339 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on FYBR shares. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Benchmark reissued 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 research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and an average target price of $35.31.
Check Out Our Latest Research Report on Frontier Communications Parent
Insider Activity at Frontier Communications Parent
In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the transaction, the executive vice president now owns 76,523 shares of the company’s stock, valued at $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 SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.
Frontier Communications Parent Price Performance
Shares of FYBR opened at $36.00 on Friday. The firm has a market cap of $8.99 billion, a PE ratio of -27.91 and a beta of 1.04. The firm’s 50 day moving average price is $35.59 and its 200 day moving average price is $34.82. 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 twelve month low of $21.31 and a twelve month high of $39.21.
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued 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 return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.
Frontier Communications Parent 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.
See Also
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