Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells $818,661.35 in Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at $4,223,192.70. This 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 available at this hyperlink.

Frontier Communications Parent Stock Down 0.5 %

Shares of FYBR stock traded down $0.18 on Tuesday, reaching $34.75. 1,638,063 shares of the company’s stock traded hands, compared to its average volume of 2,247,941. The company has a market capitalization of $8.65 billion, a P/E ratio of -46.33 and a beta of 1.10. Frontier Communications Parent, Inc. has a 12-month low of $20.42 and a 12-month 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 business’s 50 day moving average price is $35.45 and its two-hundred day moving average price is $30.19.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data 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). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share. On average, equities analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

FYBR has been the subject of several recent research reports. Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Raymond James lowered 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 Frontier Communications Parent from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.31.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after buying an additional 1,587,145 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Frontier Communications Parent by 12.0% during the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after purchasing an additional 1,462,646 shares in the last quarter. Slotnik Capital LLC acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at $34,286,000. Sand Grove Capital Management LLP acquired a new position in Frontier Communications Parent during the 3rd quarter valued at about $18,490,000. Finally, Anchorage Capital Advisors L.P. boosted its stake in 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 acquiring an additional 362,888 shares during the last quarter.

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.