SG Americas Securities LLC raised its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 1,283.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,578 shares of the company’s stock after acquiring an additional 298,339 shares during the quarter. SG Americas Securities LLC owned approximately 0.13% of Frontier Communications Parent worth $11,159,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in FYBR. UMB Bank n.a. raised its stake 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 valued at $36,000 after purchasing an additional 425 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Frontier Communications Parent in the third quarter worth about $50,000. Meeder Asset Management Inc. acquired a new position in Frontier Communications Parent during the third quarter worth about $52,000. Farther Finance Advisors LLC grew its stake in Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after acquiring an additional 811 shares in the last quarter. Finally, Quarry LP acquired a new stake in Frontier Communications Parent in the 3rd quarter valued at about $91,000.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on FYBR shares. Benchmark lowered Frontier Communications Parent from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Finally, Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Frontier Communications Parent has an average rating of “Hold” and a consensus price target of $35.31.
Frontier Communications Parent Price Performance
Frontier Communications Parent stock opened at $35.79 on Friday. Frontier Communications Parent, Inc. has a 1 year low of $20.51 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The company’s 50 day simple moving average is $34.94 and its 200-day simple moving average is $33.08. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of -47.72 and a beta of 1.05.
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm 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 expect that Frontier Communications Parent, Inc. will post -0.92 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.
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.
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