Anthracite Investment Company Inc. Acquires New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Anthracite Investment Company Inc. bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 49,062 shares of the company’s stock, valued at approximately $1,743,000.

A number of other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Frontier Communications Parent in the 2nd quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new position in shares of Frontier Communications Parent during the 3rd quarter valued at $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Frontier Communications Parent in the third quarter worth about $52,000. Blue Trust Inc. boosted its holdings in Frontier Communications Parent by 224,400.0% in the 2nd 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 grew its holdings 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 purchasing an additional 811 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group lifted their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.31.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Frontier Communications Parent Trading Down 0.5 %

Frontier Communications Parent stock opened at $34.75 on Wednesday. Frontier Communications Parent, Inc. has a 12 month low of $20.42 and a 12 month 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 stock has a market cap of $8.65 billion, a P/E ratio of -46.33 and a beta of 1.10. The company’s fifty day simple moving average is $35.45 and its 200-day simple moving average is $30.19.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (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 for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company posted $0.05 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

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.