Sanders Morris Harris LLC Buys Shares of 81,777 Frontier Communications Parent, Inc. $FYBR

Sanders Morris Harris LLC bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 81,777 shares of the company’s stock, valued at approximately $3,054,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in shares of Frontier Communications Parent by 1.1% in the 2nd quarter. Intech Investment Management LLC now owns 26,171 shares of the company’s stock valued at $953,000 after buying an additional 286 shares in the last quarter. Savant Capital LLC raised its position in Frontier Communications Parent by 2.2% during the second quarter. Savant Capital LLC now owns 14,267 shares of the company’s stock valued at $519,000 after acquiring an additional 308 shares in the last quarter. QRG Capital Management Inc. raised its position in Frontier Communications Parent by 5.0% during the second quarter. QRG Capital Management Inc. now owns 6,635 shares of the company’s stock valued at $242,000 after acquiring an additional 317 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Frontier Communications Parent by 4.1% during the second quarter. PNC Financial Services Group Inc. now owns 8,758 shares of the company’s stock valued at $319,000 after acquiring an additional 341 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Frontier Communications Parent by 46.1% in the first quarter. Brooklyn Investment Group now owns 1,137 shares of the company’s stock valued at $41,000 after acquiring an additional 359 shares during the last quarter.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR opened at $38.19 on Wednesday. The business’s 50-day simple moving average is $37.77 and its 200-day simple moving average is $37.16. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. Frontier Communications Parent, Inc. has a 52 week low of $34.60 and a 52 week high of $38.25. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of -25.13 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) EPS. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Frontier Communications Parent in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

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.