Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,087 shares of the company’s stock after buying an additional 1,116 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Frontier Communications Parent were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. AGF Management Ltd. purchased a new position in shares of Frontier Communications Parent during the fourth quarter valued at about $2,601,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Frontier Communications Parent by 17.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,225 shares of the company’s stock worth $1,673,000 after acquiring an additional 7,312 shares in the last quarter. Alpine Associates Management Inc. lifted its stake in Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock worth $36,179,000 after purchasing an additional 765,250 shares during the last quarter. Amundi lifted its stake in Frontier Communications Parent by 1,363.0% in the fourth quarter. Amundi now owns 746,109 shares of the company’s stock worth $26,345,000 after purchasing an additional 695,109 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Frontier Communications Parent in the fourth quarter worth about $2,065,000.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $35.79 on Friday. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of -27.74 and a beta of 1.04. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a 50 day moving average of $35.78 and a 200 day moving average of $35.36.

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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. On average, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent 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 transaction, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FYBR. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent 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.