Insider Selling: Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells 23,491 Shares of Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Frontier Communications Parent Price Performance

Shares of Frontier Communications Parent stock traded down $0.18 during midday trading on Tuesday, hitting $34.75. 1,638,063 shares of the company traded hands, compared to its average volume of 2,247,941. 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 stock 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 firm’s fifty day moving average price is $35.45 and its 200-day moving average price is $30.19.

Frontier Communications Parent (NASDAQ:FYBR) last released 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 firm 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%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in shares of Frontier Communications Parent during the third quarter worth $586,000. Redwood Investment Management LLC bought a new stake in shares of Frontier Communications Parent in the 1st quarter valued at about $641,000. Luxor Capital Group LP raised its stake in Frontier Communications Parent by 1.6% during the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after buying an additional 43,542 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after buying an additional 1,587,145 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Frontier Communications Parent by 0.5% in the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock valued at $589,777,000 after purchasing an additional 108,344 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on FYBR shares. The Goldman Sachs Group lifted their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Wolfe Research cut Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Frontier Communications Parent has an average 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.