Woodline Partners LP Purchases Shares of 900,000 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Woodline Partners LP acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 900,000 shares of the company's stock, valued at approximately $31,230,000. Woodline Partners LP owned about 0.36% of Frontier Communications Parent at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Frontier Communications Parent during the fourth quarter worth about $191,247,000. Tudor Investment Corp ET AL bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $114,555,000. Adage Capital Partners GP L.L.C. grew its position in shares of 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 worth $109,295,000 after acquiring an additional 2,599,714 shares in the last quarter. Sona Asset Management US LLC acquired a new position in shares of Frontier Communications Parent in the 4th quarter worth approximately $51,179,000. Finally, FIL Ltd bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $49,228,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on FYBR. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Frontier Communications Parent presently has a consensus rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded up $0.03 on Monday, hitting $36.68. The stock had a trading volume of 1,901,102 shares, compared to its average volume of 2,769,091. The company's 50-day moving average is $36.15 and its two-hundred day moving average is $35.58. Frontier Communications Parent, Inc. has a one year low of $24.43 and a one year high of $39.21. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of -28.43 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.51 billion during 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%. Frontier Communications Parent's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated 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 sale, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

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.