NBC Securities Inc. Buys 34,864 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

NBC Securities Inc. raised its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 102,541.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,898 shares of the company's stock after purchasing an additional 34,864 shares during the quarter. NBC Securities Inc.'s holdings in Frontier Communications Parent were worth $1,251,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Frontier Communications Parent during the fourth quarter worth $191,247,000. Tudor Investment Corp ET AL acquired a new position in Frontier Communications Parent in the 4th quarter valued at approximately $114,555,000. Adage Capital Partners GP L.L.C. raised its holdings in Frontier Communications Parent by 472.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock valued at $109,295,000 after acquiring an additional 2,599,714 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in Frontier Communications Parent during the fourth quarter worth $51,179,000. Finally, FIL Ltd acquired a new stake in Frontier Communications Parent during the fourth quarter worth $49,228,000.

Wall Street Analyst Weigh In

Several research firms recently commented on FYBR. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Trading Down 0.1%

FYBR stock traded down $0.04 during trading on Wednesday, hitting $36.36. The company had a trading volume of 2,738,130 shares, compared to its average volume of 2,918,665. The firm has a 50-day moving average price of $36.24 and a 200-day moving average price of $35.67. Frontier Communications Parent, Inc. has a 12 month low of $24.43 and a 12 month high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of -28.19 and a beta of 0.97.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, analysts predict 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.