Adage Capital Partners GP L.L.C. Has $109.30 Million Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Adage Capital Partners GP L.L.C. lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 472.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,149,714 shares of the company's stock after purchasing an additional 2,599,714 shares during the period. Adage Capital Partners GP L.L.C. owned 1.26% of Frontier Communications Parent worth $109,295,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Frontier Communications Parent by 39.7% in the third quarter. Barclays PLC now owns 99,969 shares of the company's stock valued at $3,553,000 after acquiring an additional 28,417 shares during the period. Franklin Resources Inc. increased its position in shares of Frontier Communications Parent by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock valued at $1,588,000 after purchasing an additional 372 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Frontier Communications Parent in the 4th quarter worth approximately $261,000. Wedmont Private Capital grew its position in Frontier Communications Parent by 82.3% during the fourth quarter. Wedmont Private Capital now owns 27,882 shares of the company's stock valued at $979,000 after acquiring an additional 12,590 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings 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 during the last quarter.

Analyst Ratings Changes

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

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction on Monday, March 3rd. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Up 0.0 %

Shares of NASDAQ:FYBR traded up $0.01 during trading hours on Monday, reaching $36.24. The stock had a trading volume of 905,873 shares, compared to its average volume of 2,672,534. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of -28.09 and a beta of 1.01. The firm's 50 day moving average is $35.88 and its 200-day moving average is $35.45. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. Frontier Communications Parent, Inc. has a 1 year low of $22.80 and a 1 year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. 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.