Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 661,553 shares of the company's stock after selling 74,624 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Frontier Communications Parent worth $22,956,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FYBR. Vanguard Group Inc. grew its holdings in Frontier Communications Parent by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock valued at $842,412,000 after purchasing an additional 303,545 shares during the period. Norges Bank purchased a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $191,247,000. Tudor Investment Corp ET AL purchased a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $114,555,000. Adage Capital Partners GP L.L.C. grew its holdings in Frontier Communications Parent by 472.7% in the fourth 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 purchasing an additional 2,599,714 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Frontier Communications Parent by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock valued at $80,615,000 after purchasing an additional 12,251 shares during the period.

Analyst Ratings Changes

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

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company'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 sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents a 31.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Frontier Communications Parent Trading Up 0.1%

FYBR traded up $0.03 during trading on Thursday, hitting $36.51. 770,962 shares of the company's stock were exchanged, compared to its average volume of 2,824,343. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 1 year low of $24.43 and a 1 year high of $39.21. The stock has a 50 day moving average price of $36.19 and a 200 day moving average price of $35.61. The firm has a market cap of $9.14 billion, a P/E ratio of -28.29 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.51 billion. Frontier Communications Parent's revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

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.