Cerity Partners LLC Sells 1,703 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Cerity Partners LLC lowered its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,688 shares of the company’s stock after selling 1,703 shares during the period. Cerity Partners LLC’s holdings in Frontier Communications Parent were worth $376,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Frontier Communications Parent in the 4th quarter valued at about $191,247,000. Alliancebernstein L.P. increased its stake in Frontier Communications Parent by 411.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company’s stock valued at $54,145,000 after acquiring an additional 1,255,180 shares during the last quarter. Highbridge Capital Management LLC increased its stake in Frontier Communications Parent by 375.0% in the fourth quarter. Highbridge Capital Management LLC now owns 1,084,546 shares of the company’s stock valued at $37,634,000 after acquiring an additional 856,218 shares during the last quarter. Alpine Associates Management Inc. raised 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 valued at $36,179,000 after purchasing an additional 765,250 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Frontier Communications Parent during the fourth quarter worth $25,157,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FYBR. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.07.

Frontier Communications Parent Stock Up 0.2 %

Shares of NASDAQ FYBR opened at $36.12 on Wednesday. The company has a 50 day simple moving average of $35.85 and a 200 day simple moving average of $35.43. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent, Inc. has a 1 year low of $21.84 and a 1 year high of $39.21. The firm has a market cap of $9.04 billion, a PE ratio of -28.00 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly 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). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

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.