Raymond James Financial Inc. Makes New $2.07 Million Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Raymond James Financial Inc. purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 59,502 shares of the company's stock, valued at approximately $2,065,000.

Other institutional investors also recently added to or reduced their stakes in the company. New York Life Investment Management LLC purchased a new position in Frontier Communications Parent in the fourth quarter valued at about $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Frontier Communications Parent in the fourth quarter valued at approximately $9,948,000. Alpine Associates Management Inc. grew its holdings in Frontier Communications Parent by 275.9% during the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock valued at $36,179,000 after purchasing an additional 765,250 shares during the period. Proficio Capital Partners LLC purchased a new stake in Frontier Communications Parent in the fourth quarter worth $1,583,000. Finally, Silphium Asset Management Ltd purchased a new stake in Frontier Communications Parent in the fourth quarter worth $10,410,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, 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. One 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $36.07.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction 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 sale, 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 legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Up 0.2 %

NASDAQ:FYBR traded up $0.09 on Friday, reaching $36.50. 2,456,042 shares of the stock traded hands, compared to its average volume of 2,686,858. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The company 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 company's fifty day simple moving average is $35.94 and its 200 day simple moving average is $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) earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.51 billion. The business's revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS 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.