Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stock Position Lessened by Solus Alternative Asset Management LP

Solus Alternative Asset Management LP trimmed its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 56.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 693,498 shares of the company's stock after selling 900,000 shares during the quarter. Frontier Communications Parent accounts for approximately 7.7% of Solus Alternative Asset Management LP's investment portfolio, making the stock its 6th biggest holding. Solus Alternative Asset Management LP owned 0.28% of Frontier Communications Parent worth $24,064,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FYBR. UMB Bank n.a. raised 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 purchasing an additional 425 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Frontier Communications Parent by 37.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after purchasing an additional 1,399 shares during the last quarter. Blue Trust Inc. raised its position in shares of Frontier Communications Parent by 36.8% during the 4th 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 acquired a new position in shares of Frontier Communications Parent during the 4th quarter worth about $228,000. Finally, Vestcor Inc acquired a new position in shares of Frontier Communications Parent during the 4th quarter worth about $234,000.

Frontier Communications Parent Trading Up 0.4 %

NASDAQ FYBR traded up $0.16 on Thursday, reaching $36.41. 2,184,218 shares of the company were exchanged, compared to its average volume of 2,683,224. The business's fifty day moving average price is $35.91 and its 200 day moving average price is $35.47. The stock has a market capitalization of $9.11 billion, a P/E ratio of -28.22 and a beta of 1.01. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a fifty-two week low of $23.24 and a fifty-two week 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, beating the consensus estimate of ($0.33) by $0.07. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. The company's revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the company's 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 transaction, the executive vice president now owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

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.