Skandinaviska Enskilda Banken AB publ Buys New Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 57,700 shares of the company’s stock, valued at approximately $2,002,000.

Other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Frontier Communications Parent during the third quarter valued at approximately $586,000. Anthracite Investment Company Inc. bought a new stake in Frontier Communications Parent during the third quarter valued at approximately $1,743,000. New York Life Investment Management LLC purchased a new position in Frontier Communications Parent during the fourth quarter valued at approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Frontier Communications Parent during the fourth quarter valued at approximately $9,948,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $82,108,000 after purchasing an additional 109,648 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have weighed in on FYBR. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

FYBR stock opened at $35.84 on Monday. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The company’s fifty day moving average price is $35.72 and its 200-day moving average price is $35.20. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $8.95 billion, a PE ratio of -27.78 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. On average, equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by insiders.

About Frontier Communications Parent

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.