Handelsbanken Fonder AB Has $1.69 Million Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Handelsbanken Fonder AB trimmed its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,600 shares of the company’s stock after selling 8,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Frontier Communications Parent were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Slotnik Capital LLC bought a new position in shares of Frontier Communications Parent in the third quarter valued at approximately $34,286,000. Alberta Investment Management Corp bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $24,863,000. Sand Grove Capital Management LLP bought a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at $18,490,000. Anchorage Capital Advisors L.P. raised its position in shares of Frontier Communications Parent by 26.6% during the 3rd quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock valued at $61,451,000 after acquiring an additional 362,888 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Frontier Communications Parent by 1,283.8% in the 4th quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock valued at $11,159,000 after buying an additional 298,339 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on FYBR. Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $35.86 on Wednesday. Frontier Communications Parent, Inc. has a 52-week low of $21.31 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. The company has a market cap of $8.95 billion, a P/E ratio of -27.80 and a beta of 1.05. The stock’s 50-day simple moving average is $35.42 and its 200 day simple moving average is $34.52.

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