National Bank of Canada FI Acquires 24,542 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

National Bank of Canada FI grew its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 73.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 57,797 shares of the company’s stock after purchasing an additional 24,542 shares during the period. National Bank of Canada FI’s holdings in Frontier Communications Parent were worth $2,054,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of FYBR. International Assets Investment Management LLC bought a new stake in Frontier Communications Parent in the 2nd quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in shares of Frontier Communications Parent in the third quarter valued at approximately $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Frontier Communications Parent during the third quarter valued at approximately $52,000. Blue Trust Inc. lifted its holdings in Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after acquiring an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after purchasing an additional 811 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on FYBR. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $34.65 on Friday. The firm has a market capitalization of $8.63 billion, a P/E ratio of -46.20 and a beta of 1.05. Frontier Communications Parent, Inc. has a one year low of $20.51 and a one year high of $39.21. 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 business has a fifty day moving average price of $35.11 and a 200-day moving average price of $31.20.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Insider Activity

In related news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction 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 sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

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.