Fort Baker Capital Management LP Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Fort Baker Capital Management LP bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,211,428 shares of the company's stock, valued at approximately $42,037,000. Frontier Communications Parent makes up about 6.8% of Fort Baker Capital Management LP's portfolio, making the stock its 2nd largest holding. Fort Baker Capital Management LP owned about 0.49% of Frontier Communications Parent as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. UMB Bank n.a. increased its position in Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock worth $36,000 after buying an additional 425 shares during the last quarter. Russell Investments Group Ltd. raised its position in Frontier Communications Parent by 37.9% in the fourth 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 in the last quarter. Blue Trust Inc. lifted its position in shares of Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after buying an additional 1,581 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth about $228,000. Finally, Vestcor Inc acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth approximately $234,000.

Wall Street Analyst Weigh In

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

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded up $0.05 during mid-day trading on Thursday, hitting $36.58. The stock had a trading volume of 883,528 shares, compared to its average volume of 2,685,973. Frontier Communications Parent, Inc. has a twelve month low of $24.43 and a twelve month high of $39.21. The company's 50 day simple moving average is $36.03 and its 200 day simple moving average is $35.52. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -28.35 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 for the quarter, topping the consensus estimate 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. On average, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company's stock.

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.