59,502 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of 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 (SEC). The institutional investor purchased 59,502 shares of the company's stock, valued at approximately $2,065,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. grew 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 worth $36,000 after acquiring an additional 425 shares in the last quarter. Russell Investments Group Ltd. grew its position in Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after purchasing an additional 1,399 shares in the last quarter. Blue Trust Inc. grew its position in Frontier Communications Parent by 36.8% in the 4th 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 bought a new position in shares of Frontier Communications Parent during the 4th quarter worth approximately $228,000. Finally, Vestcor Inc purchased a new position in shares of Frontier Communications Parent in the 4th quarter worth approximately $234,000.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded down $0.04 during trading on Tuesday, hitting $36.50. 1,199,895 shares of the company's stock traded hands, compared to its average volume of 2,683,557. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -28.29 and a beta of 1.01. Frontier Communications Parent, Inc. has a 12-month low of $24.43 and a 12-month high of $39.21. The business has a 50 day moving average of $35.96 and a 200-day moving average of $35.49.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.51 billion. The firm's revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

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.