Northern Trust Corp Raises Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Northern Trust Corp lifted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,078,942 shares of the company's stock after purchasing an additional 413,800 shares during the period. Northern Trust Corp owned about 0.83% of Frontier Communications Parent worth $72,139,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FYBR. UMB Bank n.a. lifted its position in shares of Frontier Communications Parent by 68.0% during 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 during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Frontier Communications Parent by 37.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after purchasing an additional 1,399 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after purchasing an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth $228,000. Finally, Vestcor Inc purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth $234,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. New Street Research cut shares of 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 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.07.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the stock in a transaction dated 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 transaction, 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 SEC, which is available at this link. Insiders own 1.60% of the company's stock.

Frontier Communications Parent Stock Performance

Shares of FYBR traded up $0.01 during mid-day trading on Friday, hitting $36.53. 1,242,750 shares of the company's stock were exchanged, compared to its average volume of 2,692,052. Frontier Communications Parent, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $39.21. The firm has a market capitalization of $9.14 billion, a P/E ratio of -28.32 and a beta of 1.01. The business's 50 day moving average is $36.00 and its two-hundred day moving average is $35.51. 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 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. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business 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% compared to the same quarter last year. On average, equities analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.