Ares Management LLC Has $830.90 Million Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Ares Management LLC cut its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 38.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,945,156 shares of the company's stock after selling 14,967,739 shares during the period. Frontier Communications Parent comprises approximately 2.1% of Ares Management LLC's holdings, making the stock its 3rd largest holding. Ares Management LLC owned approximately 9.62% of Frontier Communications Parent worth $830,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC boosted its position in Frontier Communications Parent by 39.7% in the third quarter. Barclays PLC now owns 99,969 shares of the company's stock valued at $3,553,000 after buying an additional 28,417 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Frontier Communications Parent by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company's stock worth $1,588,000 after acquiring an additional 372 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Frontier Communications Parent during the 4th quarter worth approximately $261,000. Wedmont Private Capital increased its holdings in Frontier Communications Parent by 82.3% during the 4th quarter. Wedmont Private Capital now owns 27,882 shares of the company's stock valued at $979,000 after purchasing an additional 12,590 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after purchasing an additional 425 shares during the last quarter.

Insider Buying and Selling

In related news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on FYBR shares. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. Finally, New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Trading Up 0.2 %

NASDAQ:FYBR traded up $0.09 on Friday, hitting $36.50. 2,456,042 shares of the stock were exchanged, compared to its average volume of 2,684,632. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -28.29 and a beta of 1.01. 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 company's 50-day moving average price is $35.94 and its 200 day moving average price is $35.48.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.51 billion. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

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.