Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stock Holdings Lessened by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 363,900 shares of the company’s stock after selling 2,800 shares during the period. Swiss National Bank owned 0.15% of Frontier Communications Parent worth $12,929,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FYBR. Natixis Advisors LLC grew its holdings in shares of Frontier Communications Parent by 10.4% during the third quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock valued at $670,000 after purchasing an additional 1,778 shares during the last quarter. CIBC Asset Management Inc bought a new position in Frontier Communications Parent during the 3rd quarter worth $255,000. Oppenheimer & Co. Inc. acquired a new stake in Frontier Communications Parent in the third quarter worth $499,000. Victory Capital Management Inc. lifted its stake in Frontier Communications Parent by 4.2% in the third quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock valued at $2,364,000 after buying an additional 2,669 shares during the last quarter. Finally, Aigen Investment Management LP boosted its holdings in shares of Frontier Communications Parent by 21.3% during the third quarter. Aigen Investment Management LP now owns 10,453 shares of the company’s stock valued at $371,000 after acquiring an additional 1,836 shares during the period.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FYBR. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. The Goldman Sachs Group lifted their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Up 0.2 %

Shares of FYBR stock opened at $34.87 on Friday. The stock has a 50-day simple moving average of $35.37 and a 200 day simple moving average of $30.34. The stock has a market capitalization of $8.68 billion, a P/E ratio of -46.49 and a beta of 1.10. Frontier Communications Parent, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $39.21. 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 (NASDAQ:FYBR) last posted its quarterly earnings data 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). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal 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.