FORA Capital LLC Acquires New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

FORA Capital LLC bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 64,715 shares of the company’s stock, valued at approximately $2,299,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Frontier Communications Parent by 18.9% in the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after acquiring an additional 444 shares in the last quarter. Jag Capital Management LLC raised its holdings in shares of Frontier Communications Parent by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock valued at $320,000 after purchasing an additional 445 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after purchasing an additional 585 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Frontier Communications Parent by 8.4% during the third quarter. US Bancorp DE now owns 7,750 shares of the company’s stock valued at $275,000 after buying an additional 598 shares during the period.

Frontier Communications Parent Stock Down 0.2 %

FYBR stock opened at $34.78 on Thursday. The stock has a market capitalization of $8.66 billion, a PE ratio of -46.37 and a beta of 1.10. Frontier Communications Parent, Inc. has a 52 week low of $20.42 and a 52 week high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a 50 day moving average of $35.33 and a 200 day moving average of $30.50.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent 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 completion of the sale, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $37.00 target price on shares of Frontier Communications Parent in a report on Thursday, September 5th. TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.31.

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.