Farther Finance Advisors LLC Decreases Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Farther Finance Advisors LLC lessened its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 42.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,047 shares of the company’s stock after selling 768 shares during the quarter. Farther Finance Advisors LLC’s holdings in Frontier Communications Parent were worth $36,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AGF Management Ltd. purchased a new position in Frontier Communications Parent in the fourth quarter valued at about $2,601,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Frontier Communications Parent by 17.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,225 shares of the company’s stock worth $1,673,000 after purchasing an additional 7,312 shares during the last quarter. Alpine Associates Management Inc. boosted its position in Frontier Communications Parent by 275.9% during the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock worth $36,179,000 after purchasing an additional 765,250 shares in the last quarter. Amundi grew its holdings in Frontier Communications Parent by 1,363.0% in the fourth quarter. Amundi now owns 746,109 shares of the company’s stock valued at $26,345,000 after purchasing an additional 695,109 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Frontier Communications Parent in the fourth quarter valued at $2,065,000.

Frontier Communications Parent Stock Down 0.4 %

Shares of NASDAQ FYBR opened at $35.79 on Monday. The firm has a market cap of $8.94 billion, a P/E ratio of -27.74 and a beta of 1.04. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The firm’s 50 day moving average price is $35.78 and its 200 day moving average price is $35.39.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. As a group, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

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.