Proficio Capital Partners LLC Takes $1.58 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Proficio Capital Partners LLC purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 45,631 shares of the company’s stock, valued at approximately $1,583,000.

A number of other institutional investors have also recently added to or reduced their stakes in FYBR. Victory Capital Management Inc. increased its position in shares of Frontier Communications Parent by 4.2% during the third quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock worth $2,364,000 after acquiring an additional 2,669 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Frontier Communications Parent in the third quarter valued at about $499,000. CIBC Asset Management Inc acquired a new stake in Frontier Communications Parent during the 3rd quarter valued at approximately $255,000. Natixis Advisors LLC increased its holdings in Frontier Communications Parent by 10.4% during the 3rd quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock worth $670,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Frontier Communications Parent in the 3rd quarter valued at approximately $52,000.

Insider Buying and Selling

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FYBR. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $35.77 on Thursday. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The firm’s 50-day moving average is $35.76 and its 200-day moving average is $35.31. 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 market cap of $8.93 billion, a P/E ratio of -27.73 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.47 billion. On average, equities analysts expect 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.