Marshall Wace LLP Sells 20,477 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Marshall Wace LLP cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,019 shares of the company's stock after selling 20,477 shares during the quarter. Marshall Wace LLP's holdings in Frontier Communications Parent were worth $2,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UMB Bank n.a. increased its stake 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 worth $36,000 after purchasing an additional 425 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Frontier Communications Parent by 37.9% in the fourth quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after acquiring an additional 1,399 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 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. Impact Partnership Wealth LLC purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $228,000. Finally, Vestcor Inc acquired a new position in Frontier Communications Parent in the 4th quarter worth approximately $234,000.

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 76,523 shares of the company's stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.40% of the company's stock.

Frontier Communications Parent Stock Up 0.3 %

Shares of FYBR stock traded up $0.10 on Thursday, hitting $36.35. The company's stock had a trading volume of 1,296,274 shares, compared to its average volume of 2,675,305. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of -28.16 and a beta of 1.01. Frontier Communications Parent, Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $39.21. The firm's fifty day moving average price is $35.91 and its 200-day moving average price is $35.47. 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 (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. The company's revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. 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. Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, Raymond James downgraded Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. One equities research 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.com, the company currently has an average rating of "Hold" and a consensus price target of $36.07.

About Frontier Communications Parent

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.