Frontier Communications Parent, Inc. (NASDAQ:FYBR) Holdings Raised by Gabelli Funds LLC

Gabelli Funds LLC raised its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 325.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 569,230 shares of the company's stock after purchasing an additional 435,530 shares during the period. Gabelli Funds LLC owned 0.23% of Frontier Communications Parent worth $19,752,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Frontier Communications Parent by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock worth $842,412,000 after purchasing an additional 303,545 shares during the period. Norges Bank bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at about $191,247,000. Charles Schwab Investment Management Inc. raised its stake in Frontier Communications Parent by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock worth $80,615,000 after acquiring an additional 12,251 shares during the period. Magnetar Financial LLC lifted its holdings in Frontier Communications Parent by 37.7% in the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company's stock worth $62,926,000 after acquiring an additional 496,750 shares during the last quarter. Finally, Quinn Opportunity Partners LLC boosted its stake in Frontier Communications Parent by 19.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,569,519 shares of the company's stock valued at $54,462,000 after acquiring an additional 250,050 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FYBR. Raymond James downgraded Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One investment 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, Frontier Communications Parent currently has an average rating of "Hold" and a consensus target price of $36.07.

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares of the company's stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Price Performance

NASDAQ:FYBR traded down $0.05 during midday trading on Monday, hitting $36.06. 195,787 shares of the stock were exchanged, compared to its average volume of 2,663,904. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of -27.95 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 one year low of $21.31 and a one year high of $39.21. The business has a 50-day moving average price of $35.84 and a two-hundred day moving average price of $35.43.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.28). 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 $1.47 billion. Sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current 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.