Impact Partnership Wealth LLC Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Impact Partnership Wealth LLC acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,578 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Frontier Communications Parent by 1,283.8% in the fourth quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock valued at $11,159,000 after acquiring an additional 298,339 shares during the period. UMB Bank n.a. grew its position in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after purchasing an additional 425 shares during the period. Wedmont Private Capital grew its position in shares of Frontier Communications Parent by 82.3% in the 4th quarter. Wedmont Private Capital now owns 27,882 shares of the company’s stock valued at $979,000 after purchasing an additional 12,590 shares during the period. Everence Capital Management Inc. bought a new stake in Frontier Communications Parent during the 4th quarter worth approximately $261,000. Finally, Franklin Resources Inc. raised its holdings in Frontier Communications Parent by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after buying an additional 372 shares during the period.

Frontier Communications Parent Trading Up 0.0 %

Shares of NASDAQ FYBR opened at $35.80 on Friday. The firm has a 50 day moving average price of $34.96 and a two-hundred day moving average price of $33.16. The stock has a market cap of $8.91 billion, a P/E ratio of -47.73 and a beta of 1.05. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. 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 (NASDAQ:FYBR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. Frontier Communications Parent’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Frontier Communications Parent, Inc. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction 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 is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FYBR shares. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.31.

About Frontier Communications Parent

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.