Canada Pension Plan Investment Board Sells 13,576,698 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Canada Pension Plan Investment Board reduced its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 99.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,100 shares of the company's stock after selling 13,576,698 shares during the quarter. Canada Pension Plan Investment Board's holdings in Frontier Communications Parent were worth $2,710,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FYBR. UMB Bank n.a. boosted its stake in shares of 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 purchasing an additional 425 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock valued at $177,000 after purchasing an additional 1,399 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Frontier Communications Parent by 36.8% in the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after purchasing an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $228,000. Finally, Vestcor Inc acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $234,000.

Wall Street Analyst Weigh In

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

Frontier Communications Parent Trading Up 0.1 %

Frontier Communications Parent stock traded up $0.02 during mid-day trading on Monday, hitting $36.25. 1,836,752 shares of the stock were exchanged, compared to its average volume of 2,676,190. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 12 month low of $22.80 and a 12 month high of $39.21. The firm's fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $35.46. The stock has a market capitalization 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 released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. 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 Frontier Communications Parent stock in a transaction 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 completion of the sale, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

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.