12,391 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Purchased by Cerity Partners LLC

Cerity Partners LLC acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 12,391 shares of the company’s stock, valued at approximately $440,000.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent during the 2nd quarter worth approximately $37,000. Capital Performance Advisors LLP purchased a new position in Frontier Communications Parent during the third quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent during the third quarter worth approximately $52,000. Farther Finance Advisors LLC boosted its stake in Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after buying an additional 811 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after buying an additional 2,244 shares in the last quarter.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $34.64 on Monday. Frontier Communications Parent, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50 day moving average price of $35.19 and a 200 day moving average price of $30.96. The stock has a market capitalization of $8.63 billion, a P/E ratio of -46.19 and a beta of 1.05.

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

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent 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 of the company’s stock, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wolfe Research lowered Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Benchmark cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.31.

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.