Lazard Asset Management LLC Invests $76,000 in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Lazard Asset Management LLC purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,213 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in shares of Frontier Communications Parent by 68.0% in the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares during the period. Russell Investments Group Ltd. grew its holdings in Frontier Communications Parent by 37.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company’s stock valued at $177,000 after purchasing an additional 1,399 shares during the last quarter. Blue Trust Inc. raised its position in 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 during the period. Vestcor Inc bought a new stake in Frontier Communications Parent in the fourth quarter worth about $234,000. Finally, LPL Financial LLC boosted its position in shares of Frontier Communications Parent by 17.9% during the fourth quarter. LPL Financial LLC now owns 7,027 shares of the company’s stock valued at $244,000 after buying an additional 1,066 shares during the period.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FYBR has been the topic of several recent analyst reports. New Street Research lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Finally, Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Frontier Communications Parent presently has an average rating of “Hold” and a consensus target price of $36.07.

Frontier Communications Parent Stock Up 0.1%

NASDAQ:FYBR opened at $36.68 on Monday. 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 $24.43 and a 1-year high of $39.21. The company has a 50-day moving average of $36.15 and a 200 day moving average of $35.58. The firm has a market cap of $9.18 billion, a PE ratio of -28.43 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, topping 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 firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

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.