Grantham Mayo Van Otterloo & Co. LLC Invests $20.61 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, HoldingsChannel reports. The firm acquired 593,982 shares of the company’s stock, valued at approximately $20,611,000.

Several other institutional investors have also bought and sold shares of FYBR. UMB Bank n.a. increased its stake in Frontier Communications Parent by 68.0% during 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. Quarry LP acquired a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $91,000. Blue Trust Inc. raised its holdings in Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Frontier Communications Parent in the fourth quarter worth approximately $228,000. Finally, Vestcor Inc bought a new position in Frontier Communications Parent during the 4th quarter valued at $234,000.

Insider Activity at Frontier Communications Parent

In other 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on FYBR. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James cut shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Finally, 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent presently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.8 %

Shares of NASDAQ FYBR opened at $35.64 on Friday. The business has a 50-day moving average price of $35.83 and a two-hundred day moving average price of $35.40. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The firm has a market capitalization of $8.90 billion, a PE ratio of -27.63 and a beta of 1.01. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

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

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.