Bank of America Corp DE Buys 100,099 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Bank of America Corp DE increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 358,586 shares of the company's stock after acquiring an additional 100,099 shares during the period. Bank of America Corp DE owned about 0.14% of Frontier Communications Parent worth $12,443,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mariner LLC lifted its stake in Frontier Communications Parent by 0.8% in the 4th quarter. Mariner LLC now owns 37,731 shares of the company's stock valued at $1,309,000 after purchasing an additional 301 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Frontier Communications Parent by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock valued at $1,565,000 after acquiring an additional 344 shares in the last quarter. CIBC Asset Management Inc lifted its position in Frontier Communications Parent by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock worth $263,000 after buying an additional 377 shares during the last quarter. UMB Bank n.a. raised its holdings in Frontier Communications Parent by 68.0% during the 4th 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 during the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Frontier Communications Parent by 2.5% during the fourth quarter. Natixis Advisors LLC now owns 19,324 shares of the company's stock valued at $671,000 after buying an additional 473 shares during the period.

Frontier Communications Parent Stock Down 0.2%

Shares of FYBR stock traded down $0.07 on Wednesday, hitting $36.55. 826,054 shares of the stock were exchanged, compared to its average volume of 2,779,484. The business has a 50-day moving average of $36.18 and a 200 day moving average of $35.60. Frontier Communications Parent, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $9.15 billion, a P/E ratio of -28.33 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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 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 completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This represents 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 through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FYBR has been the subject of a number of research analyst reports. 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. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, Raymond James downgraded shares of 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 assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.