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

Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 580,111 shares of the company's stock, valued at approximately $20,130,000. Frontier Communications Parent makes up 8.5% of Absolute Gestao de Investimentos Ltda.'s portfolio, making the stock its 4th biggest holding. Absolute Gestao de Investimentos Ltda. owned about 0.23% of Frontier Communications Parent at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FYBR. Mariner LLC grew its position in Frontier Communications Parent by 0.8% in 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 last quarter. Oregon Public Employees Retirement Fund boosted its holdings 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 valued at $1,565,000 after purchasing an additional 344 shares in the last quarter. 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 worth $1,588,000 after purchasing an additional 372 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Frontier Communications Parent by 5.2% in 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 during the period. Finally, UMB Bank n.a. boosted its stake in shares of Frontier Communications Parent by 68.0% in the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after buying an additional 425 shares in the last quarter.

Insider Transactions at Frontier Communications Parent

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

Analysts Set New Price Targets

FYBR has been the subject of a number of research analyst reports. Benchmark reaffirmed 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 report on Thursday, February 6th. Finally, New Street Research cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Stock Down 0.1 %

Shares of Frontier Communications Parent stock traded down $0.03 on Wednesday, hitting $36.48. 1,392,802 shares of the company's stock traded hands, compared to its average volume of 2,678,414. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm's 50-day moving average is $35.96 and its 200 day moving average is $35.49. The stock has a market cap of $9.13 billion, a P/E ratio of -28.28 and a beta of 1.01. Frontier Communications Parent, Inc. has a 52-week low of $24.43 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.07. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business's revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current 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.