Swiss National Bank Increases Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Swiss National Bank increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,800 shares of the company’s stock after purchasing an additional 27,900 shares during the quarter. Swiss National Bank owned approximately 0.16% of Frontier Communications Parent worth $13,595,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FYBR. Oregon Public Employees Retirement Fund raised its holdings in Frontier Communications Parent by 0.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock worth $1,565,000 after purchasing an additional 344 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Frontier Communications Parent by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after acquiring an additional 372 shares in the last quarter. CIBC Asset Management Inc lifted its position in Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock valued at $263,000 after acquiring an additional 377 shares during the last quarter. UMB Bank n.a. boosted its stake in Frontier Communications Parent by 68.0% in 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 in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Frontier Communications Parent by 6.5% in the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock worth $339,000 after purchasing an additional 581 shares during the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $35.77 on Thursday. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. 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 market cap of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04. The company’s 50 day moving average is $35.76 and its 200 day moving average is $35.31.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. On average, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction 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 insiders.

Analysts Set New Price Targets

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