Blue Trust Inc. Raises Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Blue Trust Inc. boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 36.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,883 shares of the company’s stock after purchasing an additional 1,581 shares during the period. Blue Trust Inc.’s holdings in Frontier Communications Parent were worth $209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Impact Partnership Wealth LLC purchased a new position in shares of Frontier Communications Parent in the fourth quarter worth $228,000. SG Americas Securities LLC increased its position in shares of Frontier Communications Parent by 1,283.8% in the fourth quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock valued at $11,159,000 after acquiring an additional 298,339 shares during the period. UMB Bank n.a. raised its stake in shares of Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Frontier Communications Parent by 82.3% during the fourth quarter. Wedmont Private Capital now owns 27,882 shares of the company’s stock worth $979,000 after purchasing an additional 12,590 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth about $261,000.

Frontier Communications Parent Price Performance

FYBR stock opened at $35.76 on Tuesday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day moving average price of $35.07 and a 200-day moving average price of $33.61. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of -47.68 and a beta of 1.05.

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 net margin of 3.19% and a negative return on equity of 3.61%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FYBR. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Benchmark downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Citigroup cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.31.

Insider Activity

In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction dated 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 owns 121,182 shares in the company, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

About Frontier Communications Parent

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.