Sand Grove Capital Management LLP Acquires 201,678 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Sand Grove Capital Management LLP grew its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 38.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 722,084 shares of the company's stock after buying an additional 201,678 shares during the period. Frontier Communications Parent accounts for 12.2% of Sand Grove Capital Management LLP's investment portfolio, making the stock its 3rd biggest position. Sand Grove Capital Management LLP owned approximately 0.29% of Frontier Communications Parent worth $25,056,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. UMB Bank n.a. grew its position in shares of Frontier Communications Parent by 68.0% in the fourth 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 during the period. Lazard Asset Management LLC purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $76,000. Russell Investments Group Ltd. grew its position in Frontier Communications Parent by 37.9% during the fourth quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock valued at $177,000 after acquiring an additional 1,399 shares during the period. Blue Trust Inc. grew its position in Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after acquiring an additional 1,581 shares during the period. Finally, Impact Partnership Wealth LLC purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $228,000.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the stock in a transaction that occurred on 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 approximately $2,755,593.23. This represents a 31.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Frontier Communications Parent Stock Up 0.4%

NASDAQ FYBR traded up $0.13 on Tuesday, hitting $36.83. 4,289,364 shares of the stock traded hands, compared to its average volume of 2,739,335. The stock has a 50-day moving average of $36.08 and a 200 day moving average of $35.53. Frontier Communications Parent, Inc. has a twelve month low of $24.43 and a twelve month high of $39.21. The company has a market capitalization of $9.22 billion, a P/E ratio of -28.55 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 (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. The business had revenue of $1.51 billion for 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 firm's revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.