Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stake Lessened by Swiss National Bank

Swiss National Bank decreased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,900 shares of the company’s stock after selling 2,800 shares during the quarter. Swiss National Bank’s holdings in Frontier Communications Parent were worth $12,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent during the 2nd quarter valued at about $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent during the third quarter worth approximately $50,000. Blue Trust Inc. grew its position 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 valued at $55,000 after purchasing an additional 2,244 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares during the period. Finally, Game Plan Financial Advisors LLC lifted its position in 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 buying an additional 500 shares in the last quarter.

Frontier Communications Parent Trading Up 0.2 %

Shares of NASDAQ:FYBR opened at $34.87 on Friday. 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 stock’s 50-day moving average is $35.37 and its 200-day moving average is $30.34. The company has a market cap of $8.68 billion, a P/E ratio of -46.49 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.

Frontier Communications Parent (NASDAQ:FYBR) last released 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 business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $0.05 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the 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 sale, the executive vice president now owns 121,182 shares in the company, 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 this hyperlink. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and set a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Benchmark restated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group increased their price target on shares of 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.31.

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.