Intech Investment Management LLC Purchases New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Intech Investment Management LLC acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,321 shares of the company’s stock, valued at approximately $532,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Frontier Communications Parent by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after acquiring an additional 12,251 shares during the last quarter. Anchorage Capital Advisors L.P. raised its position in Frontier Communications Parent by 26.6% in the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock valued at $61,451,000 after purchasing an additional 362,888 shares during the last quarter. Alpine Associates Management Inc. raised its position in Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after purchasing an additional 765,250 shares during the last quarter. Slotnik Capital LLC acquired a new stake in shares of Frontier Communications Parent during the third quarter valued at about $34,286,000. Finally, Amundi grew its holdings in shares of Frontier Communications Parent by 1,363.0% during the fourth quarter. Amundi now owns 746,109 shares of the company’s stock worth $26,345,000 after purchasing an additional 695,109 shares during the last quarter.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction 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 $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Stock Down 0.1 %

FYBR opened at $35.76 on Tuesday. The company’s 50-day moving average price is $35.79 and its two-hundred day moving average price is $35.39. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of -27.72 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

FYBR has been the subject of several analyst reports. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, New Street Research lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.31.

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.