Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 55.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,549 shares of the company’s stock after purchasing an additional 5,190 shares during the quarter. Sterling Capital Management LLC’s holdings in Frontier Communications Parent were worth $505,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Frontier Communications Parent by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock worth $1,565,000 after acquiring an additional 344 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Frontier Communications Parent by 0.8% in the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock valued at $1,588,000 after purchasing an additional 372 shares during the period. CIBC Asset Management Inc increased its position in Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock worth $263,000 after purchasing an additional 377 shares during the last quarter. UMB Bank n.a. raised its stake in Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 425 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Frontier Communications Parent by 2.5% in the 4th quarter. Natixis Advisors LLC now owns 19,324 shares of the company’s stock valued at $671,000 after purchasing an additional 473 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FYBR. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Frontier Communications Parent currently has a consensus rating of “Hold” and an average target price of $36.07.

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Price Performance

FYBR opened at $36.11 on Friday. The stock’s 50-day moving average price is $35.83 and its 200 day moving average price is $35.42. Frontier Communications Parent, Inc. has a 12-month low of $21.31 and a 12-month high of $39.21. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of -27.99 and a beta of 1.01. The company has a current ratio of 0.77, a quick 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 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 during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Frontier Communications Parent 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.