Alpine Associates Management Inc. purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 277,380 shares of the company’s stock, valued at approximately $9,855,000.
A number of other large investors also recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new stake in Frontier Communications Parent in the 3rd quarter worth approximately $586,000. Redwood Investment Management LLC bought a new stake in Frontier Communications Parent in the 1st quarter worth approximately $641,000. Luxor Capital Group LP increased its stake in Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after acquiring an additional 43,542 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after acquiring an additional 1,587,145 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Frontier Communications Parent by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after acquiring an additional 108,344 shares during the last quarter.
Insider Buying and Selling at Frontier Communications Parent
In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction on 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 $4,223,192.70. This represents a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.
Frontier Communications Parent Stock Performance
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. Sell-side analysts predict that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on FYBR shares. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Finally, TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.31.
Check Out Our Latest Analysis on FYBR
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.
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