Meeder Asset Management Inc. Buys 37,801 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Meeder Asset Management Inc. increased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2,571.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 39,271 shares of the company’s stock after acquiring an additional 37,801 shares during the quarter. Meeder Asset Management Inc.’s holdings in Frontier Communications Parent were worth $1,363,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in Frontier Communications Parent in the 4th quarter valued at $5,198,000. O Shaughnessy Asset Management LLC boosted its stake in Frontier Communications Parent by 29.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,012 shares of the company’s stock valued at $452,000 after buying an additional 2,985 shares during the period. Highbridge Capital Management LLC grew its position in Frontier Communications Parent by 375.0% during the fourth quarter. Highbridge Capital Management LLC now owns 1,084,546 shares of the company’s stock worth $37,634,000 after buying an additional 856,218 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Frontier Communications Parent by 17.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 33,144 shares of the company’s stock worth $1,150,000 after acquiring an additional 4,885 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $191,247,000.

Frontier Communications Parent Trading Down 0.1 %

Shares of FYBR opened at $35.89 on Monday. Frontier Communications Parent, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -27.82 and a beta of 1.04. The firm has a 50 day moving average price of $35.82 and a 200-day moving average price of $35.40. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FYBR shares. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Frontier Communications Parent presently has an average rating of “Hold” and an average price target of $35.31.

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.