Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,703,810 shares of the company’s stock after selling 8,563 shares during the period. American Century Companies Inc. owned approximately 0.68% of Frontier Communications Parent worth $59,122,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after acquiring an additional 425 shares during the period. Quarry LP acquired a new position in shares of Frontier Communications Parent in the third quarter worth $91,000. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Frontier Communications Parent during the fourth quarter valued at $228,000. Finally, Vestcor Inc purchased a new position in Frontier Communications Parent in the fourth quarter valued at about $234,000.

Analysts Set New Price Targets

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

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Frontier Communications Parent Trading Down 0.0 %

Shares of FYBR opened at $35.75 on Wednesday. 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 company has a market cap of $8.93 billion, a price-to-earnings ratio of -27.71 and a beta of 1.04. The stock has a fifty day moving average price of $35.80 and a two-hundred day moving average price of $35.40. Frontier Communications Parent, Inc. has a 52-week low of $21.31 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

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.