Vestcor Inc Purchases New Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Vestcor Inc purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the fourth quarter, Holdings Channel.com reports. The fund purchased 6,748 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 425 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at $52,000. Quarry LP acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at $91,000. Blue Trust Inc. increased its stake in shares of Frontier Communications Parent by 36.8% in the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock valued at $209,000 after buying an additional 1,581 shares during the period. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $228,000.

Frontier Communications Parent Stock Performance

FYBR stock opened at $35.77 on Wednesday. The business’s 50-day moving average price is $35.75 and its two-hundred day moving average price is $35.30. 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 firm has a market cap of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04. Frontier Communications Parent, Inc. has a 1-year low of $21.31 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its 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). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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 stock was 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 in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

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.