7,510 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, Holdings Channel.com reports. The firm purchased 7,510 shares of the company’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Frontier Communications Parent during the 3rd quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new position in shares of Frontier Communications Parent in the 3rd quarter valued at approximately $52,000. Farther Finance Advisors LLC lifted its stake in shares of 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 purchasing an additional 811 shares during the period. Quarry LP purchased a new stake in Frontier Communications Parent in the third quarter worth $91,000. Finally, GAMMA Investing LLC raised its holdings in Frontier Communications Parent by 18.9% in the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after purchasing an additional 444 shares in the last quarter.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the business’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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $35.17 on Wednesday. The business has a 50-day simple moving average of $34.83 and a two-hundred day simple moving average of $32.37. 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 firm has a market cap of $8.76 billion, a price-to-earnings ratio of -46.89 and a beta of 1.05. Frontier Communications Parent, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. On average, analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Benchmark cut Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, TD Cowen cut Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Hold” and a consensus price target 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.