Victory Capital Management Inc. Buys 2,669 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Victory Capital Management Inc. grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 66,529 shares of the company’s stock after acquiring an additional 2,669 shares during the quarter. Victory Capital Management Inc.’s holdings in Frontier Communications Parent were worth $2,364,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Frontier Communications Parent in the second quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new stake in Frontier Communications Parent during the 3rd quarter valued at $50,000. Blue Trust Inc. raised its holdings in Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its holdings in shares of Frontier Communications Parent by 23.8% during the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after buying an additional 500 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FYBR shares. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Benchmark restated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $34.87 on Monday. The firm has a market cap of $8.68 billion, a P/E ratio of -46.49 and a beta of 1.10. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The company’s 50 day moving average is $35.37 and its 200-day moving average is $30.38. Frontier Communications Parent, Inc. has a 12-month low of $20.42 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. Sell-side analysts predict that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% 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.