Tower Research Capital LLC TRC Buys 9,050 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Tower Research Capital LLC TRC grew its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 150.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,082 shares of the company's stock after purchasing an additional 9,050 shares during the period. Tower Research Capital LLC TRC's holdings in Frontier Communications Parent were worth $523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. New York Life Investment Management LLC purchased a new stake in shares of Frontier Communications Parent in the 4th quarter worth about $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Frontier Communications Parent in the fourth quarter worth about $9,948,000. Raymond James Financial Inc. bought a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $2,065,000. Alpine Associates Management Inc. lifted its holdings in shares of Frontier Communications Parent by 275.9% during the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company's stock valued at $36,179,000 after purchasing an additional 765,250 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $1,583,000.

Analysts Set New Price Targets

FYBR has been the subject of a number of analyst reports. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Raymond James lowered Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent presently has a consensus rating of "Hold" and an average target price of $36.07.

Insider Buying and Selling at Frontier Communications Parent

In related 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 owns 76,523 shares of the company's stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded up $0.09 during trading hours on Friday, hitting $36.50. The company's stock had a trading volume of 2,456,042 shares, compared to its average volume of 2,684,632. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $9.13 billion, a P/E ratio of -28.29 and a beta of 1.01. The company's 50 day simple moving average is $35.94 and its two-hundred day simple moving average is $35.48. Frontier Communications Parent, Inc. has a 12 month low of $24.43 and a 12 month high of $39.21.

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. 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 analyst estimates of $1.51 billion. Frontier Communications Parent's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Frontier Communications Parent Company 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.