Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 21.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,971 shares of the company’s stock after purchasing an additional 3,354 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Frontier Communications Parent were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC purchased a new position in shares of Frontier Communications Parent during the second quarter worth $37,000. Capital Performance Advisors LLP acquired a new position in Frontier Communications Parent during the 3rd quarter worth about $50,000. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent during the 3rd quarter valued at about $52,000. Blue Trust Inc. grew its position in Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in 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 purchasing an additional 811 shares during the period.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $34.78 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 52 week low of $20.42 and a 52 week high of $39.21. The firm’s 50 day moving average is $35.32 and its two-hundred day moving average is $30.53. The firm has a market capitalization of $8.66 billion, a P/E ratio of -46.37 and a beta of 1.10.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FYBR. Benchmark restated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Wolfe Research cut Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Finally, Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Hold” and an average target price of $35.31.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction 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 transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

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.