Credit Industriel ET Commercial Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Credit Industriel ET Commercial bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 120,605 shares of the company's stock, valued at approximately $4,185,000. Frontier Communications Parent accounts for 0.5% of Credit Industriel ET Commercial's investment portfolio, making the stock its 23rd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in FYBR. New York Life Investment Management LLC purchased a new stake in shares of Frontier Communications Parent in the fourth quarter valued at approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Frontier Communications Parent during the fourth quarter worth $9,948,000. Raymond James Financial Inc. purchased a new position in Frontier Communications Parent during the fourth quarter valued at $2,065,000. Alpine Associates Management Inc. grew its position 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 purchasing an additional 765,250 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $1,583,000.

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Down 0.0 %

Shares of Frontier Communications Parent stock traded down $0.01 on Tuesday, reaching $36.25. 467,176 shares of the company were exchanged, compared to its average volume of 2,667,665. The stock's 50 day moving average price is $35.89 and its 200-day moving average price is $35.46. 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 1-year low of $22.80 and a 1-year high of $39.21. The company has a market cap of $9.07 billion, a P/E ratio of -28.10 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. As a group, equities analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FYBR shares. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Raymond James lowered 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 research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average 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.