Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by Highbridge Capital Management LLC

Highbridge Capital Management LLC boosted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 375.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,084,546 shares of the company’s stock after buying an additional 856,218 shares during the period. Frontier Communications Parent makes up 1.5% of Highbridge Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Highbridge Capital Management LLC’s holdings in Frontier Communications Parent were worth $37,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FYBR. Natixis Advisors LLC boosted its holdings in shares of Frontier Communications Parent by 10.4% in the 3rd quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock valued at $670,000 after purchasing an additional 1,778 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Frontier Communications Parent by 21.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,971 shares of the company’s stock valued at $674,000 after acquiring an additional 3,354 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock valued at $82,108,000 after acquiring an additional 109,648 shares during the last quarter. Citigroup Inc. grew its position in Frontier Communications Parent by 106.9% during the third quarter. Citigroup Inc. now owns 239,893 shares of the company’s stock valued at $8,523,000 after acquiring an additional 123,939 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Frontier Communications Parent during the third quarter worth about $440,000.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Price Performance

Shares of FYBR stock opened at $35.91 on Friday. The firm has a fifty day simple moving average of $35.81 and a 200-day simple moving average of $35.40. The company has a market capitalization of $8.97 billion, a PE ratio of -27.84 and a beta of 1.04. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share 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 firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FYBR. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. 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, New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.