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

Anchorage Capital Group L.L.C. lowered its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 52.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,443,742 shares of the company's stock after selling 2,679,803 shares during the quarter. Frontier Communications Parent makes up approximately 29.8% of Anchorage Capital Group L.L.C.'s holdings, making the stock its 2nd biggest position. Anchorage Capital Group L.L.C. owned about 0.98% of Frontier Communications Parent worth $84,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FYBR. UMB Bank n.a. raised its stake in shares of Frontier Communications Parent by 68.0% in the fourth 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 period. Russell Investments Group Ltd. grew its stake 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 valued at $177,000 after purchasing an additional 1,399 shares during the last quarter. Blue Trust Inc. raised its stake 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 acquiring an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of Frontier Communications Parent in the 4th quarter worth $228,000. Finally, Vestcor Inc purchased a new stake in shares of Frontier Communications Parent during the fourth quarter worth about $234,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FYBR shares. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. Finally, Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One equities research 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Trading Up 0.1 %

FYBR traded up $0.04 during trading on Monday, hitting $36.54. The company's stock had a trading volume of 3,485,316 shares, compared to its average volume of 2,687,835. Frontier Communications Parent, Inc. has a twelve month low of $24.43 and a twelve month high of $39.21. The firm's 50 day moving average price is $35.95 and its 200-day moving average price is $35.49. 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 stock has a market cap of $9.14 billion, a PE ratio of -28.33 and a beta of 1.01.

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, beating 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 during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent's quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts expect 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 the 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 owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Frontier Communications Parent Company 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.