Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stock Position Reduced by Anchorage Capital Advisors L.P.

Anchorage Capital Advisors L.P. cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,523,287 shares of the company's stock after selling 206,268 shares during the quarter. Frontier Communications Parent makes up approximately 35.6% of Anchorage Capital Advisors L.P.'s holdings, making the stock its 2nd biggest holding. Anchorage Capital Advisors L.P. owned about 0.61% of Frontier Communications Parent worth $52,858,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mariner LLC grew its position in Frontier Communications Parent by 0.8% in the fourth quarter. Mariner LLC now owns 37,731 shares of the company's stock valued at $1,309,000 after acquiring an additional 301 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Frontier Communications Parent by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock worth $1,565,000 after buying an additional 344 shares during the period. Franklin Resources Inc. raised its position in Frontier Communications Parent by 0.8% during the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock worth $1,588,000 after acquiring an additional 372 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Frontier Communications Parent by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock valued at $263,000 after acquiring an additional 377 shares during the period. Finally, UMB Bank n.a. raised its position in 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 purchasing an additional 425 shares during the last quarter.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FYBR has been the topic of several recent analyst reports. New Street Research cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Raymond James downgraded Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Finally, Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR traded up $0.03 during midday trading on Thursday, hitting $36.52. The company's stock had a trading volume of 513,949 shares, compared to its average volume of 2,673,800. Frontier Communications Parent, Inc. has a 12-month low of $24.43 and a 12-month high of $39.21. The business's 50 day simple moving average is $35.97 and its 200 day simple moving average is $35.50. The company has a market cap of $9.14 billion, a P/E ratio of -28.31 and a beta of 1.01. 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 (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.07. The firm had revenue of $1.51 billion during 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 company's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.