Absolute Gestao de Investimentos Ltda. Buys New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Absolute Gestao de Investimentos Ltda. bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 580,111 shares of the company's stock, valued at approximately $20,130,000. Frontier Communications Parent accounts for 8.5% of Absolute Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 4th biggest position. Absolute Gestao de Investimentos Ltda. owned 0.23% of Frontier Communications Parent as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Frontier Communications Parent by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock worth $842,412,000 after buying an additional 303,545 shares during the period. Norges Bank acquired a new stake in Frontier Communications Parent during the fourth quarter worth approximately $191,247,000. Tudor Investment Corp ET AL acquired a new stake in Frontier Communications Parent during the 4th quarter worth $114,555,000. Adage Capital Partners GP L.L.C. increased its position in shares of Frontier Communications Parent by 472.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock worth $109,295,000 after purchasing an additional 2,599,714 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Frontier Communications Parent by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock valued at $80,615,000 after buying an additional 12,251 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FYBR shares. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $36.07.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Trading Up 0.1 %

FYBR stock traded up $0.02 during midday trading on Thursday, hitting $36.51. The stock had a trading volume of 474,563 shares, compared to its average volume of 2,673,133. The company's 50-day moving average price is $35.97 and its 200 day moving average price is $35.50. 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 firm has a market cap of $9.14 billion, a PE ratio of -28.30 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.

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

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.