Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Anchorage Capital Group L.L.C.

Anchorage Capital Group L.L.C. reduced its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 52.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,443,742 shares of the company's stock after selling 2,679,803 shares during the period. Frontier Communications Parent makes up about 29.8% of Anchorage Capital Group L.L.C.'s holdings, making the stock its 2nd largest holding. Anchorage Capital Group L.L.C. owned 0.98% of Frontier Communications Parent worth $84,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of FYBR. New York Life Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $9,948,000. Raymond James Financial Inc. acquired a new position in Frontier Communications Parent during the 4th quarter worth approximately $2,065,000. Alpine Associates Management Inc. lifted its position in Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock valued at $36,179,000 after acquiring an additional 765,250 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth $1,583,000.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Frontier Communications Parent Trading Up 0.1 %

FYBR stock traded up $0.03 on Thursday, hitting $36.52. 513,949 shares of the company were exchanged, compared to its average volume of 2,673,800. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The business's fifty day moving average is $35.97 and its two-hundred day moving average is $35.50. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of -28.31 and a beta of 1.01. Frontier Communications Parent, Inc. has a twelve month low of $24.43 and a twelve month high of $39.21.

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 (EPS) for the quarter, beating 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 business 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. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.