Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,877 shares of the company's stock after buying an additional 20,077 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of Frontier Communications Parent worth $6,034,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FYBR. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $191,247,000. FIL Ltd acquired a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $49,228,000. Alliancebernstein L.P. boosted its stake in Frontier Communications Parent by 411.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock valued at $54,145,000 after purchasing an additional 1,255,180 shares in the last quarter. Highbridge Capital Management LLC increased its position in shares of Frontier Communications Parent by 375.0% during the 4th quarter. Highbridge Capital Management LLC now owns 1,084,546 shares of the company's stock valued at $37,634,000 after purchasing an additional 856,218 shares during the period. Finally, Alpine Associates Management Inc. raised its stake in shares of Frontier Communications Parent by 275.9% in the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock worth $36,179,000 after buying an additional 765,250 shares in the last quarter.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company'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 value of $1,296,360.00. Following the transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Up 0.2 %

Shares of NASDAQ:FYBR opened at $36.50 on Friday. The firm has a 50 day simple moving average of $35.94 and a 200 day simple moving average of $35.48. Frontier Communications Parent, Inc. has a 52 week low of $24.43 and a 52 week high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $9.13 billion, a PE ratio of -28.29 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate 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 return on equity of 6.25% and a negative net margin of 5.42%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FYBR shares. Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. 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, Frontier Communications Parent currently has an average rating of "Hold" and a consensus price target of $36.07.

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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