Anchorage Capital Advisors L.P. Has $52.86 Million Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Anchorage Capital Advisors L.P. decreased its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,523,287 shares of the company's stock after selling 206,268 shares during the quarter. Frontier Communications Parent makes up about 35.6% of Anchorage Capital Advisors L.P.'s holdings, making the stock its 2nd biggest position. Anchorage Capital Advisors L.P. owned approximately 0.61% of Frontier Communications Parent worth $52,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. New York Life Investment Management LLC acquired a new position in shares of Frontier Communications Parent during the 4th quarter valued at about $9,148,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Frontier Communications Parent during the 4th quarter worth $9,948,000. Raymond James Financial Inc. bought a new position in Frontier Communications Parent in the 4th quarter worth $2,065,000. Alpine Associates Management Inc. lifted its position in Frontier Communications Parent by 275.9% during the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock worth $36,179,000 after acquiring an additional 765,250 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Frontier Communications Parent during the fourth quarter valued at about $1,583,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on FYBR. Raymond James downgraded Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.07.

Frontier Communications Parent Stock Down 0.1 %

Shares of NASDAQ:FYBR traded down $0.04 during trading on Tuesday, hitting $36.50. 1,199,895 shares of the company were exchanged, compared to its average volume of 2,683,557. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -28.29 and a beta of 1.01. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21. The firm has a fifty day moving average price of $35.95 and a two-hundred day moving average price of $35.49.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data 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. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. Frontier Communications Parent's revenue was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction that occurred 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 directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company's stock.

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.