Frontier Communications Parent, Inc. $FYBR Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Frontier Communications Parent, Inc. by 70%, now owning 30,000 shares valued at approximately $1,092,000.
• Analysts have given Frontier Communications a "sell (d-)" rating, with a consensus average rating of "Reduce," indicating negative sentiment about the stock's performance.
• Frontier Communications reported a loss of $0.49 EPS for the last quarter, missing the consensus estimate and revealing a negative return on equity of 7.88%.

TD Asset Management Inc decreased its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 70.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,000 shares of the company's stock after selling 70,000 shares during the period. TD Asset Management Inc's holdings in Frontier Communications Parent were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Jag Capital Management LLC increased its position in Frontier Communications Parent by 3.9% during the first quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock worth $298,000 after buying an additional 311 shares during the period. QRG Capital Management Inc. increased its position in Frontier Communications Parent by 5.0% during the second quarter. QRG Capital Management Inc. now owns 6,635 shares of the company's stock worth $242,000 after buying an additional 317 shares during the period. Xponance Inc. increased its position in Frontier Communications Parent by 1.3% during the first quarter. Xponance Inc. now owns 26,712 shares of the company's stock worth $958,000 after buying an additional 333 shares during the period. Brooklyn Investment Group grew its stake in shares of Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after purchasing an additional 359 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Frontier Communications Parent by 3.9% in the 1st quarter. Vident Advisory LLC now owns 11,147 shares of the company's stock valued at $400,000 after purchasing an additional 421 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Frontier Communications Parent in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce".

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $37.53 on Thursday. The firm has a market capitalization of $9.39 billion, a PE ratio of -24.21 and a beta of 0.94. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50-day moving average of $37.28 and a two-hundred day moving average of $36.71. Frontier Communications Parent, Inc. has a 12 month low of $33.72 and a 12 month high of $37.87.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned ($0.49) earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.

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