Thematics Asset Management Sells 52,259 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Thematics Asset Management reduced its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 21.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 190,244 shares of the company’s stock after selling 52,259 shares during the quarter. Thematics Asset Management owned about 0.08% of Frontier Communications Parent worth $6,759,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Frontier Communications Parent by 18.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after purchasing an additional 444 shares during the last quarter. Jag Capital Management LLC grew its holdings in Frontier Communications Parent by 5.2% during the third quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock worth $320,000 after buying an additional 445 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after buying an additional 500 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Frontier Communications Parent by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after acquiring an additional 585 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Frontier Communications Parent by 8.4% during the 3rd quarter. US Bancorp DE now owns 7,750 shares of the company’s stock worth $275,000 after acquiring an additional 598 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FYBR shares. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Wolfe Research lowered Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Finally, Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and an average target price of $35.31.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded down $0.05 during midday trading on Tuesday, hitting $34.83. The company’s stock had a trading volume of 175,118 shares, compared to its average volume of 2,247,408. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of -46.51 and a beta of 1.10. 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 fifty day moving average price of $35.35 and a 200 day moving average price of $30.44. Frontier Communications Parent, Inc. has a one year low of $20.42 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. Frontier Communications Parent’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. On average, research analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal 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.