Balyasny Asset Management L.P. Reduces Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Balyasny Asset Management L.P. trimmed its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303,656 shares of the company's stock after selling 298,097 shares during the quarter. Balyasny Asset Management L.P. owned 0.52% of Frontier Communications Parent worth $45,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in Frontier Communications Parent by 39.7% during the third quarter. Barclays PLC now owns 99,969 shares of the company's stock worth $3,553,000 after acquiring an additional 28,417 shares in the last quarter. Franklin Resources Inc. increased its stake in Frontier Communications Parent by 0.8% in the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock valued at $1,588,000 after acquiring an additional 372 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $261,000. Wedmont Private Capital lifted its position in shares of Frontier Communications Parent by 82.3% during the 4th quarter. Wedmont Private Capital now owns 27,882 shares of the company's stock worth $979,000 after buying an additional 12,590 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Frontier Communications Parent by 68.0% in the 4th 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.

Frontier Communications Parent Stock Up 0.0 %

NASDAQ FYBR traded up $0.01 on Friday, hitting $36.53. The stock had a trading volume of 1,242,750 shares, compared to its average volume of 2,692,052. 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 stock has a market cap of $9.14 billion, a price-to-earnings ratio of -28.32 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. The business's fifty day moving average price is $36.00 and its 200 day moving average price is $35.51.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly 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. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. The company's revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Frontier Communications Parent

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 stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James lowered 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 assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Frontier Communications Parent has a consensus rating of "Hold" and an average target price of $36.07.

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.