Meeder Asset Management Inc. Buys New Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Meeder Asset Management Inc. purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,470 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FYBR. Natixis Advisors LLC increased its position in shares of Frontier Communications Parent by 10.4% in the 3rd quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock worth $670,000 after purchasing an additional 1,778 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Frontier Communications Parent in the 3rd quarter worth about $255,000. Oppenheimer & Co. Inc. bought a new stake in shares of Frontier Communications Parent in the 3rd quarter worth about $499,000. Victory Capital Management Inc. increased its position in shares of Frontier Communications Parent by 4.2% in the 3rd quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock worth $2,364,000 after purchasing an additional 2,669 shares during the last quarter. Finally, Aigen Investment Management LP increased its position in shares of Frontier Communications Parent by 21.3% in the 3rd quarter. Aigen Investment Management LP now owns 10,453 shares of the company’s stock worth $371,000 after purchasing an additional 1,836 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. TD Cowen lowered shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.31.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the sale, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Frontier Communications Parent Trading Down 0.1 %

Frontier Communications Parent stock opened at $34.70 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a 50-day moving average price of $35.42 and a two-hundred day moving average price of $30.22. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of -46.27 and a beta of 1.10. Frontier Communications Parent, Inc. has a 52-week low of $20.42 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) 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 analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. Sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

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.