Stifel Financial Corp Sells 47,301 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Stifel Financial Corp lowered its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 54.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 40,260 shares of the company’s stock after selling 47,301 shares during the period. Stifel Financial Corp’s holdings in Frontier Communications Parent were worth $1,430,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Slotnik Capital LLC acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at about $34,286,000. Sand Grove Capital Management LLP acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at about $18,490,000. Anchorage Capital Advisors L.P. raised its position in shares of Frontier Communications Parent by 26.6% during the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock worth $61,451,000 after acquiring an additional 362,888 shares during the last quarter. Finally, Columbus Hill Capital Management L.P. lifted its stake in shares of Frontier Communications Parent by 345.7% in the second quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company’s stock worth $11,670,000 after acquiring an additional 345,744 shares during the period.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

Frontier Communications Parent Trading Down 0.3 %

NASDAQ FYBR opened at $34.65 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 52 week low of $20.51 and a 52 week high of $39.21. The business has a 50 day moving average price of $35.05 and a 200-day moving average price of $31.49. The company has a market cap of $8.63 billion, a price-to-earnings ratio of -46.20 and a beta of 1.05.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. 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. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Frontier Communications Parent has an average rating of “Hold” and an average price target of $35.31.

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.