ClearAlpha Technologies LP Purchases New Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

ClearAlpha Technologies LP acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 60,477 shares of the company's stock, valued at approximately $2,099,000. Frontier Communications Parent comprises about 1.4% of ClearAlpha Technologies LP's holdings, making the stock its 18th largest holding.

Several other hedge funds have also recently made changes to their positions in FYBR. New York Life Investment Management LLC bought a new position in shares of Frontier Communications Parent during the 4th quarter valued at approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Frontier Communications Parent during the fourth quarter valued at $9,948,000. Raymond James Financial Inc. purchased a new position in shares of Frontier Communications Parent in the 4th quarter worth approximately $2,065,000. Alpine Associates Management Inc. raised its stake in shares of Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock valued at $36,179,000 after acquiring an additional 765,250 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $1,583,000.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of the company'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 transaction 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 approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded up $0.02 during midday trading on Friday, hitting $36.23. The company had a trading volume of 1,435,218 shares, compared to its average volume of 2,672,418. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of -28.09 and a beta of 1.01. The company's 50 day simple moving average is $35.88 and its 200 day simple moving average is $35.45. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent, Inc. has a 52-week low of $22.25 and a 52-week 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. 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, Raymond James lowered Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Frontier Communications Parent currently has an average rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent 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.