Barclays PLC Increases Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Barclays PLC raised its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 39.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 99,969 shares of the company’s stock after acquiring an additional 28,417 shares during the quarter. Barclays PLC’s holdings in Frontier Communications Parent were worth $3,553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares in the last quarter. Slotnik Capital LLC bought a new position in Frontier Communications Parent during the 3rd quarter valued at about $34,286,000. Sand Grove Capital Management LLP purchased a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at about $18,490,000. Anchorage Capital Advisors L.P. grew its stake in shares of Frontier Communications Parent by 26.6% in the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock worth $61,451,000 after acquiring an additional 362,888 shares during the period. Finally, Columbus Hill Capital Management L.P. raised its holdings in shares of Frontier Communications Parent by 345.7% during the second quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company’s stock valued at $11,670,000 after purchasing an additional 345,744 shares during the last quarter.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 23,491 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Trading Down 0.3 %

Shares of NASDAQ:FYBR opened at $34.65 on Monday. Frontier Communications Parent, Inc. has a 12-month low of $20.51 and a 12-month high of $39.21. The company has a market cap of $8.63 billion, a PE ratio of -46.20 and a beta of 1.05. The stock has a 50 day moving average of $35.05 and a 200 day moving average of $31.53. 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 announced its quarterly earnings data 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). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.31.

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.