900,000 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Purchased by Woodline Partners LP

Woodline Partners LP acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 900,000 shares of the company's stock, valued at approximately $31,230,000. Woodline Partners LP owned 0.36% of Frontier Communications Parent at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after acquiring an additional 425 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Frontier Communications Parent during the 4th quarter worth about $76,000. Russell Investments Group Ltd. boosted its stake in shares of Frontier Communications Parent by 37.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after purchasing an additional 1,399 shares during the period. Blue Trust Inc. boosted its position 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 buying an additional 1,581 shares during the period. Finally, Impact Partnership Wealth LLC purchased a new stake in Frontier Communications Parent in the 4th quarter valued at about $228,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FYBR shares. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded up $0.03 during trading hours on Friday, hitting $36.68. The company's stock had a trading volume of 1,901,102 shares, compared to its average volume of 2,761,770. The company has a 50 day moving average of $36.15 and a 200 day moving average of $35.57. The stock has a market cap of $9.18 billion, a PE ratio of -28.43 and a beta of 1.01. 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 12-month low of $24.43 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. This trade represents a 31.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

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.