Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by LPL Financial LLC

LPL Financial LLC increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 17.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,027 shares of the company’s stock after purchasing an additional 1,066 shares during the quarter. LPL Financial LLC’s holdings in Frontier Communications Parent were worth $244,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. New York Life Investment Management LLC acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $9,948,000. Raymond James Financial Inc. acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $2,065,000. Alpine Associates Management Inc. grew 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 acquiring an additional 765,250 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $1,583,000.

Insider Activity 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 value of $1,296,360.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $36.25 on Tuesday. 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 fifty-two week low of $22.80 and a fifty-two week high of $39.21. The firm has a 50-day simple moving average of $35.89 and a 200 day simple moving average of $35.46. The company has a market cap of $9.07 billion, a PE ratio of -28.10 and a beta of 1.01.

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 analysts’ consensus estimates 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analyst Upgrades and Downgrades

FYBR has been the subject of several recent research reports. 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. Benchmark reissued 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.07.

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.