Northern Trust Corp Grows Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Northern Trust Corp lifted its stake 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 & 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 0.83% of Frontier Communications Parent worth $72,139,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FYBR. Tudor Investment Corp ET AL purchased a new position in shares of Frontier Communications Parent during the 4th quarter valued at $114,555,000. Susquehanna Fundamental Investments LLC purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $3,417,000. Westchester Capital Management LLC boosted its position in Frontier Communications Parent by 1,945.3% during the fourth quarter. Westchester Capital Management LLC now owns 870,823 shares of the company's stock worth $30,218,000 after purchasing an additional 828,247 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Frontier Communications Parent in the fourth quarter worth about $523,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Frontier Communications Parent in the fourth quarter valued at approximately $495,000.

Analyst Ratings Changes

FYBR has been the subject of a number of recent research reports. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Price Performance

FYBR stock opened at $36.54 on Tuesday. Frontier Communications Parent, Inc. has a one year low of $24.43 and a one year high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $9.14 billion, a PE ratio of -28.33 and a beta of 1.01. The firm has a 50 day simple moving average of $35.95 and a two-hundred day simple moving average of $35.49.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.07. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates 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 for the quarter was up 3.5% compared to the same quarter last year. On average, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Transactions at Frontier Communications Parent

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

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.

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