Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 38.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,586 shares of the company’s stock after purchasing an additional 100,099 shares during the quarter. Bank of America Corp DE owned 0.14% of Frontier Communications Parent worth $12,443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FYBR. UMB Bank n.a. raised its holdings in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 425 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company’s stock worth $177,000 after purchasing an additional 1,399 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Frontier Communications Parent by 36.8% in the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $228,000. Finally, Vestcor Inc bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $234,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FYBR. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.07.

Frontier Communications Parent Stock Down 0.3%

Shares of NASDAQ:FYBR opened at $36.65 on Friday. The company has a market cap of $9.17 billion, a PE ratio of -28.41 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day simple moving average of $36.13 and a 200 day simple moving average of $35.56. Frontier Communications Parent, Inc. has a 52 week low of $24.43 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.07. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling 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 that occurred on 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% 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.