Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Bought by Swiss National Bank

Swiss National Bank grew its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.7% in the fourth quarter, HoldingsChannel reports. The fund owned 391,800 shares of the company’s stock after acquiring an additional 27,900 shares during the quarter. Swiss National Bank’s holdings in Frontier Communications Parent were worth $13,595,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 425 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Frontier Communications Parent during the third quarter worth about $52,000. Quarry LP acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $91,000. Blue Trust Inc. lifted its stake in Frontier Communications Parent by 36.8% in the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock valued at $209,000 after buying an additional 1,581 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in Frontier Communications Parent in the 4th quarter worth about $228,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One equities research 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’s stock. According to data from MarketBeat, Frontier Communications Parent currently has an average rating of “Hold” and an average price target of $35.31.

Insider Activity at Frontier Communications Parent

In other 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 transaction, the executive vice president now owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $35.77 on Thursday. The company has a market capitalization of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04. 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, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The firm has a 50 day moving average price of $35.76 and a 200 day moving average price of $35.31.

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

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.