KLP Kapitalforvaltning AS Takes $1.43 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

KLP Kapitalforvaltning AS purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 41,100 shares of the company’s stock, valued at approximately $1,426,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FYBR. UMB Bank n.a. grew its stake in shares of Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares in the last quarter. Quarry LP acquired a new stake in Frontier Communications Parent during the 3rd quarter valued at approximately $91,000. Blue Trust Inc. increased its holdings in Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $228,000. Finally, Vestcor Inc purchased a new position in shares of Frontier Communications Parent during the 4th quarter valued at approximately $234,000.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred 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 sale, the executive vice president now owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR opened at $35.89 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. The firm’s 50-day moving average price is $35.82 and its two-hundred day moving average price is $35.40. Frontier Communications Parent, Inc. has a 52-week low of $21.31 and a 52-week high of $39.21. The stock has a market capitalization of $8.96 billion, a P/E ratio of -27.82 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data 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). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Raymond James lowered 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 lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.