Carronade Capital Management LP Has $49.91 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Carronade Capital Management LP increased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 139.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,251 shares of the company's stock after purchasing an additional 836,630 shares during the quarter. Frontier Communications Parent accounts for 2.8% of Carronade Capital Management LP's holdings, making the stock its 3rd biggest position. Carronade Capital Management LP owned about 0.58% of Frontier Communications Parent worth $49,907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Frontier Communications Parent by 68.0% during 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. Russell Investments Group Ltd. boosted its stake in Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after purchasing an additional 1,399 shares during the period. Blue Trust Inc. grew its position in Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Frontier Communications Parent during the 4th quarter valued at $228,000. Finally, Vestcor Inc purchased a new stake in shares of Frontier Communications Parent in the fourth quarter valued at $234,000.

Frontier Communications Parent Stock Up 0.2 %

Frontier Communications Parent stock opened at $36.50 on Monday. The company has a market capitalization of $9.13 billion, a P/E ratio of -28.29 and a beta of 1.01. Frontier Communications Parent, Inc. has a 1-year low of $24.43 and a 1-year high of $39.21. The firm's fifty day simple moving average is $35.94 and its 200-day simple moving average is $35.48. 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 (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FYBR. Raymond James lowered Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.07.

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.

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