Wells Fargo & Company MN Cuts Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Wells Fargo & Company MN cut its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 73.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,502 shares of the company's stock after selling 215,829 shares during the period. Wells Fargo & Company MN's holdings in Frontier Communications Parent were worth $2,724,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. UMB Bank n.a. boosted 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 buying an additional 425 shares during the last quarter. Blue Trust Inc. grew its holdings in Frontier Communications Parent by 36.8% during the fourth 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 period. Impact Partnership Wealth LLC acquired a new position in Frontier Communications Parent during the fourth quarter worth approximately $228,000. Vestcor Inc bought a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $234,000. Finally, LPL Financial LLC lifted its position in shares of Frontier Communications Parent by 17.9% in the fourth quarter. LPL Financial LLC now owns 7,027 shares of the company's stock valued at $244,000 after buying an additional 1,066 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. One 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $36.07.

Frontier Communications Parent Trading Down 0.0 %

NASDAQ FYBR traded down $0.01 on Wednesday, reaching $36.25. The company had a trading volume of 1,745,077 shares, compared to its average volume of 2,680,436. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent, Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $39.21. The business has a 50 day moving average of $35.91 and a two-hundred day moving average of $35.47. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of -28.10 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.07. The company 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%. Frontier Communications Parent'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 EPS for the current year.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

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.