Kovitz Investment Group Partners LLC Invests $495,000 in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Kovitz Investment Group Partners LLC purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,259 shares of the company's stock, valued at approximately $495,000.

Several other hedge funds also recently modified their holdings of FYBR. Credit Industriel ET Commercial bought a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $4,185,000. Cigogne Management SA bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at approximately $5,115,000. Adage Capital Partners GP L.L.C. raised its position in shares of Frontier Communications Parent by 472.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock valued at $109,295,000 after purchasing an additional 2,599,714 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Frontier Communications Parent by 13.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 173,877 shares of the company's stock worth $6,034,000 after buying an additional 20,077 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Frontier Communications Parent during the 4th quarter worth $309,000.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded up $0.01 during trading hours on Wednesday, reaching $36.51. The stock had a trading volume of 128,638 shares, compared to its average volume of 2,673,646. Frontier Communications Parent, Inc. has a twelve month low of $24.43 and a twelve month high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The business's fifty day moving average is $35.96 and its two-hundred day moving average is $35.49. The company has a market cap of $9.14 billion, a price-to-earnings ratio of -28.30 and a beta of 1.01.

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

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

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

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.