Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% in the 3rd quarter, Holdings Channel reports. The firm owned 45,059 shares of the company’s stock after purchasing an additional 372 shares during the period. Franklin Resources Inc.’s holdings in Frontier Communications Parent were worth $1,588,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FYBR. Raymond James & Associates increased its holdings in Frontier Communications Parent by 7.0% in the 2nd quarter. Raymond James & Associates now owns 56,833 shares of the company’s stock valued at $1,488,000 after purchasing an additional 3,728 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Frontier Communications Parent by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,874,245 shares of the company’s stock valued at $49,068,000 after buying an additional 51,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Frontier Communications Parent by 10.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,913 shares of the company’s stock valued at $1,071,000 after buying an additional 3,790 shares during the period. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent in the 2nd quarter valued at approximately $37,000. Finally, Game Plan Financial Advisors LLC boosted its position in Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after buying an additional 500 shares during the period.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $34.64 on Friday. Frontier Communications Parent, Inc. has a 12-month low of $20.51 and a 12-month high of $39.21. The stock has a market cap of $8.63 billion, a P/E ratio of -46.19 and a beta of 1.05. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The company has a fifty day simple moving average of $34.96 and a 200-day simple moving average of $31.79.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly 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). 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 firm earned $0.05 earnings per share. Frontier Communications Parent’s revenue was up 3.7% on a year-over-year basis. Equities analysts expect that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FYBR has been the subject of several recent research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Frontier Communications Parent currently has an average rating of “Hold” and an average target price of $35.31.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the business’s 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is 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.