Man Group plc Acquires 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 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Mariner LLC lifted its holdings in shares of Frontier Communications Parent by 0.8% during the 4th quarter. Mariner LLC now owns 37,731 shares of the company's stock valued at $1,309,000 after buying an additional 301 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Frontier Communications Parent by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock worth $1,565,000 after buying an additional 344 shares during the period. Franklin Resources Inc. increased its position in Frontier Communications Parent by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock valued at $1,588,000 after purchasing an additional 372 shares during the period. CIBC Asset Management Inc increased its position in Frontier Communications Parent by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock valued at $263,000 after buying an additional 377 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Frontier Communications Parent by 68.0% in 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.

Frontier Communications Parent Stock Up 0.1%

Frontier Communications Parent stock traded up $0.03 during midday trading on Tuesday, reaching $36.73. The stock had a trading volume of 1,555,851 shares, compared to its average volume of 2,723,745. Frontier Communications Parent, Inc. has a 12 month low of $24.43 and a 12 month high of $39.21. The company has a market capitalization of $9.19 billion, a P/E ratio of -28.47 and a beta of 1.01. The company has a fifty day moving average price of $36.08 and a two-hundred day moving average price of $35.53. 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 - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.26) 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 company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent's revenue was up 3.5% on a year-over-year basis. As a group, equities analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now 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 filing with the SEC, which is available at the SEC website. 1.60% of the stock is 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.