Paloma Partners Management Co Buys New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Paloma Partners Management Co purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,995 shares of the company's stock, valued at approximately $2,047,000.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Frontier Communications Parent in the fourth quarter valued at approximately $191,247,000. Tudor Investment Corp ET AL purchased a new position in shares of Frontier Communications Parent in the 4th quarter valued at $114,555,000. Adage Capital Partners GP L.L.C. raised its stake in Frontier Communications Parent by 472.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock worth $109,295,000 after acquiring an additional 2,599,714 shares in the last quarter. FIL Ltd purchased a new stake in Frontier Communications Parent in the fourth quarter valued at $49,228,000. Finally, Alliancebernstein L.P. boosted its stake in Frontier Communications Parent by 411.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company's stock valued at $54,145,000 after acquiring an additional 1,255,180 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in 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 downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued 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 Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent 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 value 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 approximately $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR traded up $0.16 during midday trading on Thursday, hitting $36.41. The stock had a trading volume of 2,184,218 shares, compared to its average volume of 2,683,224. The company has a market capitalization of $9.11 billion, a PE ratio of -28.22 and a beta of 1.01. Frontier Communications Parent, Inc. has a 1 year low of $23.24 and a 1 year high of $39.21. The stock has a 50 day moving average price of $35.92 and a two-hundred day moving average price of $35.48. 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 issued its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.