PDT Partners LLC Sells 27,148 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

PDT Partners LLC cut its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 49.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,207 shares of the company's stock after selling 27,148 shares during the quarter. PDT Partners LLC's holdings in Frontier Communications Parent were worth $979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FYBR. Vanguard Group Inc. increased its holdings in Frontier Communications Parent by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company's stock worth $842,412,000 after buying an additional 303,545 shares during the last quarter. Norges Bank purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $191,247,000. Tudor Investment Corp ET AL bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $114,555,000. Adage Capital Partners GP L.L.C. lifted its stake in Frontier Communications Parent by 472.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company's stock valued at $109,295,000 after purchasing an additional 2,599,714 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Frontier Communications Parent by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company's stock valued at $80,615,000 after purchasing an additional 12,251 shares during the period.

Insider Buying and Selling

In other 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 transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Frontier Communications Parent Price Performance

Shares of FYBR stock traded down $0.04 during trading hours on Tuesday, reaching $36.51. The stock had a trading volume of 359,628 shares, compared to its average volume of 2,678,585. The stock's fifty day simple moving average is $35.95 and its 200 day simple moving average is $35.49. The firm has a market capitalization of $9.14 billion, a PE ratio of -28.30 and a beta of 1.01. Frontier Communications Parent, Inc. has a 12 month low of $24.43 and a 12 month high of $39.21. 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 quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Frontier Communications Parent's revenue was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

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.