Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Bought by DLD Asset Management LP

DLD Asset Management LP grew its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 252.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,437 shares of the company’s stock after buying an additional 107,027 shares during the quarter. Frontier Communications Parent accounts for about 0.6% of DLD Asset Management LP’s portfolio, making the stock its 22nd largest holding. DLD Asset Management LP owned about 0.06% of Frontier Communications Parent worth $5,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Frontier Communications Parent by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company’s stock valued at $842,412,000 after acquiring an additional 303,545 shares during the period. Norges Bank purchased a new position in shares of Frontier Communications Parent during the 4th quarter valued at approximately $191,247,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Frontier Communications Parent by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after purchasing an additional 12,251 shares during the period. Magnetar Financial LLC boosted its holdings in Frontier Communications Parent by 37.7% during the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company’s stock worth $62,926,000 after buying an additional 496,750 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Frontier Communications Parent by 411.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company’s stock valued at $54,145,000 after buying an additional 1,255,180 shares during the period.

Analyst Upgrades and Downgrades

FYBR has been the subject of a number of analyst reports. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Frontier Communications Parent currently has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $35.88 on Wednesday. The firm has a 50-day simple moving average of $35.82 and a 200-day simple moving average of $35.40. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -27.81 and a beta of 1.04. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS 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 net margin of 5.42% and a negative return on equity of 6.25%. On average, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

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.