Envestnet Asset Management Inc. Sells 7,241 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Envestnet Asset Management Inc. lowered its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 40.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,555 shares of the company's stock after selling 7,241 shares during the period. Envestnet Asset Management Inc.'s holdings in Frontier Communications Parent were worth $366,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FYBR. UMB Bank n.a. lifted its position in shares of 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 buying an additional 425 shares in the last quarter. Blue Trust Inc. boosted its position in 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 purchasing an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in Frontier Communications Parent in the fourth quarter worth $228,000. Vestcor Inc purchased a new position in Frontier Communications Parent in the fourth quarter worth $234,000. Finally, LPL Financial LLC grew its position in Frontier Communications Parent by 17.9% during the fourth quarter. LPL Financial LLC now owns 7,027 shares of the company's stock valued at $244,000 after buying an additional 1,066 shares during the period.

Insider Activity at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred 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 sale, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This trade represents a 31.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FYBR has been the subject of several research analyst reports. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James lowered Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Finally, New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. One 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Trading Up 0.0%

Shares of Frontier Communications Parent stock traded up $0.01 during trading on Friday, reaching $36.53. The company's stock had a trading volume of 1,242,750 shares, compared to its average volume of 2,692,052. The firm's 50-day moving average is $36.00 and its two-hundred day moving average is $35.51. Frontier Communications Parent, Inc. has a 52-week low of $24.43 and a 52-week high of $39.21. The company has a market cap of $9.14 billion, a price-to-earnings ratio of -28.32 and a beta of 1.01. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate 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.