Frontier Communications Parent, Inc. (NASDAQ:FYBR) is Anchorage Capital Advisors L.P.’s 3rd Largest Position

Anchorage Capital Advisors L.P. grew its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 26.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,729,555 shares of the company’s stock after acquiring an additional 362,888 shares during the period. Frontier Communications Parent comprises 28.9% of Anchorage Capital Advisors L.P.’s investment portfolio, making the stock its 3rd biggest holding. Anchorage Capital Advisors L.P. owned approximately 0.69% of Frontier Communications Parent worth $61,451,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Frontier Communications Parent by 18.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after buying an additional 444 shares during the period. Jag Capital Management LLC increased its position in shares of Frontier Communications Parent by 5.2% during the third quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock worth $320,000 after acquiring an additional 445 shares during the period. Game Plan Financial Advisors LLC raised its stake in shares of Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Frontier Communications Parent by 6.5% in the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock valued at $339,000 after acquiring an additional 581 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in Frontier Communications Parent by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after purchasing an additional 585 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on FYBR shares. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Citigroup lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $34.81 on Friday. The stock has a fifty day moving average price of $35.31 and a 200 day moving average price of $30.56. 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, Inc. has a 52 week low of $20.51 and a 52 week high of $39.21. The firm has a market capitalization of $8.67 billion, a P/E ratio of -46.41 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now owns 121,182 shares in the company, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate 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.