AlphaQuest LLC Decreases Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

AlphaQuest LLC trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 38.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,055 shares of the company’s stock after selling 660 shares during the quarter. AlphaQuest LLC’s holdings in Frontier Communications Parent were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. New York Life Investment Management LLC purchased a new position in Frontier Communications Parent during the 4th quarter valued at $9,148,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Frontier Communications Parent in the 4th quarter worth about $9,948,000. Charles Schwab Investment Management Inc. boosted its stake in Frontier Communications Parent by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after purchasing an additional 109,648 shares in the last quarter. Alpine Associates Management Inc. boosted its stake in Frontier Communications Parent by 275.9% in the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock worth $36,179,000 after purchasing an additional 765,250 shares in the last quarter. Finally, Silphium Asset Management Ltd bought a new position in Frontier Communications Parent in the 4th quarter worth about $10,410,000.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Price Performance

NASDAQ FYBR opened at $35.95 on Friday. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week high of $39.21. The firm has a market capitalization of $8.98 billion, a P/E ratio of -27.87 and a beta of 1.04. 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 has a 50-day moving average price of $35.77 and a 200-day moving average price of $35.31.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

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.