Oppenheimer & Co. Inc. Invests $499,000 in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Oppenheimer & Co. Inc. bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the third quarter, according to its most recent filing with the SEC. The firm bought 14,051 shares of the company’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in Frontier Communications Parent in the 2nd quarter worth $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent during the third quarter worth about $50,000. Blue Trust Inc. lifted its position in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after buying an additional 811 shares during the period. Finally, Game Plan Financial Advisors LLC increased its stake in shares of Frontier Communications Parent by 23.8% during the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after buying an additional 500 shares during the period.

Frontier Communications Parent Price Performance

Shares of FYBR stock opened at $34.70 on Thursday. The stock’s fifty day simple moving average is $35.42 and its 200 day simple moving average is $30.22. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of -46.27 and a beta of 1.10. Frontier Communications Parent, Inc. has a one year low of $20.42 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FYBR has been the topic of a number of research reports. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Benchmark restated a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Citigroup lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Hold” and a consensus price target of $35.31.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

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.