Taconic Capital Advisors LP Has $16.65 Million Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Taconic Capital Advisors LP lowered its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 83.6% in the 3rd quarter, Holdings Channel reports. The fund owned 468,693 shares of the company’s stock after selling 2,387,494 shares during the period. Frontier Communications Parent comprises 8.9% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 3rd biggest holding. Taconic Capital Advisors LP’s holdings in Frontier Communications Parent were worth $16,653,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Frontier Communications Parent during the second quarter worth about $37,000. Capital Performance Advisors LLP acquired a new stake in Frontier Communications Parent in the third quarter worth about $50,000. Meeder Asset Management Inc. acquired a new stake in Frontier Communications Parent in the third quarter worth about $52,000. Blue Trust Inc. lifted its holdings in Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC lifted 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 worth $64,000 after purchasing an additional 811 shares during the period.

Insider Activity

In other news, EVP John Harrobin sold 23,491 shares of the company’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 transaction, the executive vice president now owns 121,182 shares in the company, valued at $4,223,192.70. This represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. The Goldman Sachs Group upped their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Communications Parent has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.2 %

NASDAQ FYBR opened at $34.78 on Friday. The stock’s 50-day moving average price is $35.32 and its two-hundred day moving average price is $30.53. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. Frontier Communications Parent, Inc. has a 1 year low of $20.42 and a 1 year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. Frontier Communications Parent’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 EPS for the current 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.