Anthracite Investment Company Inc. Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Anthracite Investment Company Inc. purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 49,062 shares of the company’s stock, valued at approximately $1,743,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Frontier Communications Parent in the second quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at $50,000. Meeder Asset Management Inc. bought a new stake in shares of Frontier Communications Parent during the third quarter worth $52,000. Blue Trust Inc. lifted its stake in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after acquiring an additional 811 shares during the last quarter.

Frontier Communications Parent Trading Down 0.5 %

Shares of NASDAQ:FYBR opened at $34.75 on Wednesday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of -46.33 and a beta of 1.10. Frontier Communications Parent, Inc. has a 12 month low of $20.42 and a 12 month high of $39.21. The company’s fifty day simple moving average is $35.45 and its 200 day simple moving average is $30.19. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly 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 business had revenue of $1.49 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, research analysts forecast that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FYBR. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.