Ares Management LLC Decreases Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Ares Management LLC decreased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 38.5% in the 4th 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 makes up 2.1% of Ares Management LLC's portfolio, making the stock its 3rd biggest holding. Ares Management LLC owned 9.62% of Frontier Communications Parent worth $830,897,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Frontier Communications Parent during the fourth quarter valued at $191,247,000. Tudor Investment Corp ET AL purchased a new stake in shares of Frontier Communications Parent in the fourth quarter worth approximately $114,555,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Frontier Communications Parent by 472.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock worth $109,295,000 after purchasing an additional 2,599,714 shares during the period. FIL Ltd acquired a new position in Frontier Communications Parent in the 4th quarter valued at approximately $49,228,000. Finally, Alliancebernstein L.P. lifted its position in Frontier Communications Parent by 411.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock worth $54,145,000 after buying an additional 1,255,180 shares in the last quarter.

Analyst Ratings Changes

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

Insider Buying and Selling at Frontier Communications Parent

In other 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 value of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents 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. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Trading Down 0.1 %

FYBR traded down $0.05 during midday trading on Tuesday, reaching $36.50. 609,004 shares of the company were exchanged, compared to its average volume of 2,679,592. The stock has a market capitalization of $9.13 billion, a P/E ratio of -28.29 and a beta of 1.01. The stock's 50-day simple moving average is $35.95 and its 200 day simple 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 one year low of $24.43 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.07. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The company's quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.