Lighthouse Investment Partners LLC grew its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 109.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 144,596 shares of the company's stock after acquiring an additional 75,446 shares during the period. Lighthouse Investment Partners LLC owned about 0.06% of Frontier Communications Parent worth $5,017,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in Frontier Communications Parent by 4.4% during the 4th quarter. Janus Henderson Group PLC now owns 89,532 shares of the company's stock valued at $3,109,000 after acquiring an additional 3,800 shares during the period. K2 Principal Fund L.P. purchased a new stake in Frontier Communications Parent during the fourth quarter valued at $2,466,000. Hudson Bay Capital Management LP grew its position in shares of Frontier Communications Parent by 60.6% during the 4th quarter. Hudson Bay Capital Management LP now owns 532,999 shares of the company's stock valued at $18,495,000 after acquiring an additional 201,047 shares during the period. Fort Baker Capital Management LP purchased a new position in shares of Frontier Communications Parent during the 4th quarter valued at about $42,037,000. Finally, Ethic Inc. increased its holdings in Frontier Communications Parent by 74.3% in the 4th quarter. Ethic Inc. now owns 25,535 shares of the company's stock worth $886,000 after acquiring an additional 10,885 shares in the last quarter.
Insider Activity
In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on FYBR shares. Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.07.
Read Our Latest Research Report on Frontier Communications Parent
Frontier Communications Parent Trading Up 0.2%
NASDAQ:FYBR traded up $0.07 during midday trading on Friday, hitting $36.67. 9,021,961 shares of the company traded hands, compared to its average volume of 2,715,041. 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 12-month low of $24.43 and a 12-month high of $39.21. The firm has a market capitalization of $9.18 billion, a P/E ratio of -28.43 and a beta of 1.01. The firm's fifty day moving average is $36.04 and its 200-day moving average is $35.53.
Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Frontier Communications Parent's revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.
About Frontier Communications Parent
(
Free Report)
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.
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