Algert Global LLC Grows Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Algert Global LLC lifted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 138.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,460 shares of the company’s stock after buying an additional 58,866 shares during the period. Algert Global LLC’s holdings in Frontier Communications Parent were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of FYBR. Cerity Partners LLC purchased a new position in Frontier Communications Parent in the 3rd quarter worth approximately $440,000. Citigroup Inc. increased its holdings in shares of Frontier Communications Parent by 106.9% in the third quarter. Citigroup Inc. now owns 239,893 shares of the company’s stock valued at $8,523,000 after purchasing an additional 123,939 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Frontier Communications Parent by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after buying an additional 109,648 shares in the last quarter. Anthracite Investment Company Inc. purchased a new stake in Frontier Communications Parent in the 3rd quarter valued at $1,743,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Frontier Communications Parent by 21.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,971 shares of the company’s stock valued at $674,000 after buying an additional 3,354 shares in the last quarter.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now owns 121,182 shares in the company, valued at $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FYBR shares. TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Benchmark restated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Trading Up 0.0 %

Shares of NASDAQ FYBR opened at $34.88 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $8.69 billion, a PE ratio of -46.51 and a beta of 1.10. Frontier Communications Parent, Inc. has a twelve month low of $20.42 and a twelve month high of $39.21. The stock has a fifty day simple moving average of $35.35 and a 200-day simple moving average of $30.44.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results 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). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.05 earnings per share. On average, equities analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

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.