Pictet Asset Management Holding SA Has $1.15 Million Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Pictet Asset Management Holding SA increased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,144 shares of the company’s stock after buying an additional 4,885 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Frontier Communications Parent were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares during the period. Quarry LP acquired a new stake in Frontier Communications Parent in the third quarter valued at $91,000. Blue Trust Inc. raised its position in Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in Frontier Communications Parent during the 4th quarter worth about $228,000. Finally, Vestcor Inc bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $234,000.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $35.64 on Friday. The firm has a market capitalization of $8.90 billion, a P/E ratio of -27.63 and a beta of 1.01. The firm’s 50-day moving average price is $35.83 and its 200-day moving average price is $35.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 1-year low of $21.31 and a 1-year high of $39.21.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.