Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 17.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,225 shares of the company’s stock after buying an additional 7,312 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Frontier Communications Parent were worth $1,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its position in Frontier Communications Parent by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock valued at $1,565,000 after purchasing an additional 344 shares during the period. Franklin Resources Inc. lifted its position in Frontier Communications Parent by 0.8% during the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock valued at $1,588,000 after purchasing an additional 372 shares during the period. CIBC Asset Management Inc lifted its position in Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock valued at $263,000 after purchasing an additional 377 shares during the period. UMB Bank n.a. lifted its position in Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after purchasing an additional 425 shares during the period. Finally, Captrust Financial Advisors lifted its position in Frontier Communications Parent by 6.5% during the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock valued at $339,000 after purchasing an additional 581 shares during the period.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the business’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 completion of the sale, the executive vice president now owns 76,523 shares of the company’s stock, valued at $2,755,593.23. The trade was 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 at this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FYBR shares. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on 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 Stock Down 0.2 %

FYBR stock opened at $35.76 on Tuesday. The stock has a market capitalization of $8.93 billion, a P/E ratio of -27.72 and a beta of 1.04. The firm has a 50-day simple moving average of $35.74 and a 200-day simple moving average of $35.26. 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 52 week low of $21.31 and a 52 week high of $39.21.

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

Frontier Communications Parent 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.