Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1,283.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 321,578 shares of the company’s stock after buying an additional 298,339 shares during the quarter. SG Americas Securities LLC’s holdings in Frontier Communications Parent were worth $11,159,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Luxor Capital Group LP increased its position in shares of Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after purchasing an additional 43,542 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Frontier Communications Parent by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after purchasing an additional 109,648 shares in the last quarter. Anchorage Capital Advisors L.P. raised its stake in Frontier Communications Parent by 26.6% in the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock valued at $61,451,000 after buying an additional 362,888 shares in the last quarter. Slotnik Capital LLC purchased a new stake in Frontier Communications Parent during the 3rd quarter worth about $34,286,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Frontier Communications Parent by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,310 shares of the company’s stock worth $20,085,000 after acquiring an additional 6,800 shares in the last quarter.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $35.79 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. The company has a 50-day simple moving average of $34.94 and a 200-day simple moving average of $33.08. The company has a market capitalization of $8.91 billion, a PE ratio of -47.72 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results 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). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.05 earnings per share. Equities research analysts predict that Frontier Communications Parent, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the transaction, the executive vice president now owns 121,182 shares of the company’s stock, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FYBR has been the subject of a number of research reports. Benchmark cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.50 in a report on Tuesday, October 8th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Finally, Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Frontier Communications Parent has a consensus rating of “Hold” and an average price target of $35.31.

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.