Fort Baker Capital Management LP Acquires Shares of 1,211,428 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Fort Baker Capital Management LP purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,211,428 shares of the company's stock, valued at approximately $42,037,000. Frontier Communications Parent comprises 6.8% of Fort Baker Capital Management LP's investment portfolio, making the stock its 2nd biggest holding. Fort Baker Capital Management LP owned about 0.49% of Frontier Communications Parent at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock worth $36,000 after acquiring an additional 425 shares during the period. Russell Investments Group Ltd. lifted its position in Frontier Communications Parent by 37.9% during the fourth quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after buying an additional 1,399 shares during the period. Blue Trust Inc. boosted its position in shares of Frontier Communications Parent by 36.8% in the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after acquiring an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $228,000. Finally, Vestcor Inc purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $234,000.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research note 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 report on Friday, February 21st. Finally, Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Stock Performance

FYBR opened at $36.53 on Friday. 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 twelve month low of $24.43 and a twelve month high of $39.21. The business's 50 day moving average is $36.00 and its 200-day moving average is $35.51. The stock has a market cap of $9.14 billion, a PE ratio of -28.32 and a beta of 1.01.

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, beating the consensus estimate 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 during the quarter, compared to analysts' expectations 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, analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

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.

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