Frontier Communications Parent, Inc. (NASDAQ:FYBR) Position Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 40.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,555 shares of the company’s stock after selling 7,241 shares during the period. Envestnet Asset Management Inc.’s holdings in Frontier Communications Parent were worth $366,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Frontier Communications Parent by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company’s stock valued at $842,412,000 after purchasing an additional 303,545 shares in the last quarter. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $191,247,000. Charles Schwab Investment Management Inc. increased its stake in shares of Frontier Communications Parent by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after acquiring an additional 12,251 shares during the period. Magnetar Financial LLC raised its holdings in Frontier Communications Parent by 37.7% during the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company’s stock worth $62,926,000 after purchasing an additional 496,750 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position 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 worth $54,145,000 after purchasing an additional 1,255,180 shares during the period.

Frontier Communications Parent Price Performance

NASDAQ FYBR opened at $36.54 on Tuesday. Frontier Communications Parent, Inc. has a 1 year low of $24.43 and a 1 year high of $39.21. The stock’s 50-day moving average price is $35.95 and its two-hundred day moving average price is $35.49. The company has a market cap of $9.14 billion, a PE ratio of -28.33 and a beta of 1.01. 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 (NASDAQ:FYBR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. 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 during the quarter, compared to the consensus estimate of $1.51 billion. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction that occurred 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 directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

FYBR has been the topic of several research analyst reports. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. 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 equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.07.

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.