Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by DLD Asset Management LP

DLD Asset Management LP raised its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 252.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 149,437 shares of the company’s stock after purchasing an additional 107,027 shares during the quarter. Frontier Communications Parent comprises about 0.6% of DLD Asset Management LP’s investment portfolio, making the stock its 22nd biggest position. DLD Asset Management LP’s holdings in Frontier Communications Parent were worth $5,185,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares during the period. Quarry LP acquired a new stake in Frontier Communications Parent in the 3rd quarter valued at approximately $91,000. Blue Trust Inc. raised its position in Frontier Communications Parent by 36.8% in the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock valued at $209,000 after purchasing an additional 1,581 shares during the period. Impact Partnership Wealth LLC acquired a new position in Frontier Communications Parent during the fourth quarter worth $228,000. Finally, Vestcor Inc purchased a new position in shares of Frontier Communications Parent during the fourth quarter worth $234,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FYBR shares. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Raymond James cut shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. One 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.com, the company presently has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Up 0.1 %

Shares of NASDAQ:FYBR opened at $35.88 on Wednesday. Frontier Communications Parent, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The firm’s 50 day moving average price is $35.82 and its 200 day moving average price is $35.40. 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 stock has a market cap of $8.96 billion, a price-to-earnings ratio of -27.81 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last announced 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). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, equities research analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This 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 through this hyperlink. 1.40% of the stock is owned by insiders.

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.