Cinctive Capital Management LP Makes New $19.78 Million Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Cinctive Capital Management LP bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 570,000 shares of the company’s stock, valued at approximately $19,779,000. Frontier Communications Parent makes up about 1.0% of Cinctive Capital Management LP’s investment portfolio, making the stock its 16th largest position. Cinctive Capital Management LP owned approximately 0.23% of Frontier Communications Parent at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its position in Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 425 shares during the period. Quarry LP acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter worth approximately $91,000. Blue Trust Inc. raised its holdings in Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in Frontier Communications Parent during the fourth quarter worth $228,000. Finally, Vestcor Inc acquired a new stake in Frontier Communications Parent in the fourth quarter valued at $234,000.

Analyst Upgrades and Downgrades

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

Insider Activity

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 value of $1,296,360.00. Following the sale, the executive vice president now directly 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 legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Frontier Communications Parent Price Performance

Shares of FYBR stock opened at $35.88 on Wednesday. The firm has a fifty day simple moving average of $35.82 and a 200-day simple moving average of $35.40. The company has a market capitalization of $8.96 billion, a PE ratio of -27.81 and a beta of 1.04. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

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