14,259 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,259 shares of the company’s stock, valued at approximately $495,000.

A number of other institutional investors also recently bought and sold shares of FYBR. Norges Bank acquired a new position in Frontier Communications Parent in the fourth quarter valued at approximately $191,247,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Frontier Communications Parent by 472.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company’s stock valued at $109,295,000 after purchasing an additional 2,599,714 shares during the period. FIL Ltd purchased a new stake in Frontier Communications Parent during the fourth quarter worth $49,228,000. Alliancebernstein L.P. grew its position in Frontier Communications Parent by 411.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company’s stock valued at $54,145,000 after buying an additional 1,255,180 shares during the period. Finally, Highbridge Capital Management LLC increased its holdings in Frontier Communications Parent by 375.0% in the fourth quarter. Highbridge Capital Management LLC now owns 1,084,546 shares of the company’s stock valued at $37,634,000 after buying an additional 856,218 shares in the last quarter.

Frontier Communications Parent Stock Up 0.4 %

Shares of FYBR opened at $36.41 on Friday. The stock has a 50 day moving average price of $35.92 and a 200 day moving average price of $35.48. Frontier Communications Parent, Inc. has a one year low of $23.24 and a one 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. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of -28.22 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FYBR has been the topic of several recent analyst reports. 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. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Finally, Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.07.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

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.