Corebridge Financial Inc. Sells 10,834 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Corebridge Financial Inc. cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,939 shares of the company’s stock after selling 10,834 shares during the quarter. Corebridge Financial Inc. owned 0.10% of Frontier Communications Parent worth $8,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Frontier Communications Parent by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company’s stock valued at $842,412,000 after purchasing an additional 303,545 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Frontier Communications Parent by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after buying an additional 12,251 shares during the last quarter. Magnetar Financial LLC boosted its position in Frontier Communications Parent by 37.7% during the 4th quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company’s stock valued at $62,926,000 after buying an additional 496,750 shares during the period. Anchorage Capital Advisors L.P. grew its holdings in Frontier Communications Parent by 26.6% in the 3rd quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock worth $61,451,000 after acquiring an additional 362,888 shares during the last quarter. Finally, Alpine Associates Management Inc. increased its position in shares of Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after acquiring an additional 765,250 shares during the period.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction on 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 completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Stock Performance

Shares of FYBR stock opened at $35.91 on Friday. 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 company’s fifty day moving average price is $35.81 and its 200-day moving average price is $35.40. The stock has a market cap of $8.97 billion, a PE ratio of -27.84 and a beta of 1.04. Frontier Communications Parent, Inc. has a 12 month low of $21.31 and a 12 month high of $39.21.

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

Wall Street Analysts Forecast Growth

FYBR has been the topic of several recent analyst reports. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.31.

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.