Wellington Management Group LLP Acquires Shares of 149,800 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Wellington Management Group LLP bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 149,800 shares of the company's stock, valued at approximately $5,198,000. Wellington Management Group LLP owned approximately 0.06% of Frontier Communications Parent at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Frontier Communications Parent during the fourth quarter worth about $76,000. Russell Investments Group Ltd. grew its holdings in shares of Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after acquiring an additional 1,399 shares during the period. Blue Trust Inc. increased its stake in Frontier Communications Parent by 36.8% in the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after purchasing an additional 1,581 shares in the last quarter. Vestcor Inc purchased a new position in Frontier Communications Parent in the 4th quarter valued at approximately $234,000. Finally, LPL Financial LLC raised its holdings in Frontier Communications Parent by 17.9% during the fourth quarter. LPL Financial LLC now owns 7,027 shares of the company's stock worth $244,000 after purchasing an additional 1,066 shares during the last quarter.

Frontier Communications Parent Trading Down 0.2%

Shares of FYBR stock traded down $0.06 during mid-day trading on Friday, hitting $36.25. 2,602,487 shares of the company's stock were exchanged, compared to its average volume of 2,949,646. Frontier Communications Parent, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of -28.10 and a beta of 0.97. 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 50-day simple moving average of $36.26 and a two-hundred day simple moving average of $35.69.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on FYBR shares. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research downgraded 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 assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.