Sona Asset Management US LLC Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Sona Asset Management US LLC bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,474,887 shares of the company's stock, valued at approximately $51,179,000. Frontier Communications Parent comprises about 2.0% of Sona Asset Management US LLC's portfolio, making the stock its 13th biggest holding. Sona Asset Management US LLC owned about 0.59% of Frontier Communications Parent at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in 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 in the last quarter. Lazard Asset Management LLC acquired a new position in Frontier Communications Parent during the 4th quarter worth $76,000. Russell Investments Group Ltd. grew its stake in 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 in the last quarter. Blue Trust Inc. grew its stake in 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 in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new position in Frontier Communications Parent during the 4th quarter worth $228,000.

Frontier Communications Parent Trading Up 0.1%

Shares of Frontier Communications Parent stock traded up $0.03 during trading hours on Monday, reaching $36.70. 3,147,167 shares of the company's stock were exchanged, compared to its average volume of 2,728,236. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of -28.45 and a beta of 1.01. The company has a fifty day moving average of $36.06 and a 200-day moving average of $35.53. Frontier Communications Parent, Inc. has a 52-week low of $24.43 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent's quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FYBR has been the subject of several analyst reports. New Street Research cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a report 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $36.07.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the firm's 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 directly owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

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.