Vanguard Group Inc. Buys 303,545 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Vanguard Group Inc. increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,277,017 shares of the company’s stock after purchasing an additional 303,545 shares during the quarter. Vanguard Group Inc. owned 9.75% of Frontier Communications Parent worth $842,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Slotnik Capital LLC purchased a new position in Frontier Communications Parent during the third quarter worth $34,286,000. Alpine Associates Management Inc. boosted its stake in shares of Frontier Communications Parent by 275.9% during the 4th 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 during the period. Picton Mahoney Asset Management purchased a new position in shares of Frontier Communications Parent during the 4th quarter worth about $25,157,000. Alberta Investment Management Corp bought a new position in Frontier Communications Parent during the 4th quarter valued at about $24,863,000. Finally, Amundi raised its position in Frontier Communications Parent by 1,363.0% in the 4th 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 period.

Wall Street Analysts Forecast Growth

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

Frontier Communications Parent Price Performance

FYBR opened at $35.89 on Friday. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of -27.82 and a beta of 1.04. 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 12-month low of $21.31 and a 12-month high of $39.21. The business’s fifty day simple moving average is $35.82 and its 200-day simple moving average is $35.40.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results 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 the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. On average, equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Activity

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 stock was 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 in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

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.