Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 509,410 shares of the company’s stock after selling 4,228 shares during the period. Principal Financial Group Inc.’s holdings in Frontier Communications Parent were worth $17,677,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. UMB Bank n.a. increased its holdings in Frontier Communications Parent by 68.0% in the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 425 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Frontier Communications Parent in the third quarter valued at $50,000. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent in the third quarter valued at $52,000. Farther Finance Advisors LLC increased its holdings in 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 during the last quarter. Finally, Quarry LP purchased a new position in Frontier Communications Parent in the third quarter valued at $91,000.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

Shares of FYBR stock opened at $35.86 on Wednesday. The stock’s 50-day moving average is $35.42 and its two-hundred day moving average is $34.52. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of -27.80 and a beta of 1.05. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year 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.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share 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.