Man Group plc Purchases New Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Man Group plc acquired a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,138,371 shares of the company's stock, valued at approximately $39,501,000. Man Group plc owned 0.46% of Frontier Communications Parent as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. increased its holdings in shares of Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock worth $36,000 after acquiring an additional 425 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Frontier Communications Parent during the fourth quarter worth approximately $76,000. Russell Investments Group Ltd. grew its stake in Frontier Communications Parent by 37.9% in the fourth quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock valued at $177,000 after acquiring an additional 1,399 shares during the period. Blue Trust Inc. grew its stake in Frontier Communications Parent by 36.8% in the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after acquiring an additional 1,581 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at approximately $228,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FYBR shares. New Street Research downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, Raymond James lowered Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Frontier Communications Parent currently has an average rating of "Hold" and an average price target of $36.07.

Frontier Communications Parent Price Performance

FYBR stock traded up $0.07 during mid-day trading on Friday, reaching $36.67. The company's stock had a trading volume of 9,021,961 shares, compared to its average volume of 2,726,553. The company's 50 day moving average is $36.06 and its two-hundred day moving average is $35.53. The stock has a market cap of $9.18 billion, a PE ratio of -28.43 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, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. Frontier Communications Parent's revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction on 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 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. The trade was a 31.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Frontier Communications Parent Company 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.