Frontier Communications Parent, Inc. (NASDAQ:FYBR) Holdings Trimmed by Cerberus Capital Management L.P.

Cerberus Capital Management L.P. lessened its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 30.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,678,169 shares of the company's stock after selling 5,490,251 shares during the quarter. Frontier Communications Parent makes up 12.8% of Cerberus Capital Management L.P.'s investment portfolio, making the stock its 2nd largest holding. Cerberus Capital Management L.P. owned 5.09% of Frontier Communications Parent worth $439,932,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mariner LLC increased its stake in shares of Frontier Communications Parent by 0.8% during the 4th quarter. Mariner LLC now owns 37,731 shares of the company's stock worth $1,309,000 after purchasing an additional 301 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Frontier Communications Parent by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock worth $1,565,000 after buying an additional 344 shares during the period. Franklin Resources Inc. grew its stake in Frontier Communications Parent by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock valued at $1,588,000 after buying an additional 372 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Frontier Communications Parent by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock worth $263,000 after acquiring an additional 377 shares during the period. Finally, UMB Bank n.a. lifted its position in Frontier Communications Parent by 68.0% during 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 last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR stock opened at $36.54 on Tuesday. The stock's fifty day moving average is $35.95 and its 200-day moving average is $35.49. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. Frontier Communications Parent, Inc. has a 52 week low of $24.43 and a 52 week high of $39.21. The stock has a market capitalization 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 posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) earnings per share 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 firm had revenue of $1.51 billion during 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. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. New Street Research cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research 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 cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $36.07.

Insider Buying and Selling

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent 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 sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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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