Geode Capital Management LLC Sells 9,931 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Geode Capital Management LLC lowered its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,999,768 shares of the company’s stock after selling 9,931 shares during the quarter. Geode Capital Management LLC owned approximately 1.61% of Frontier Communications Parent worth $142,146,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FYBR. GAMMA Investing LLC grew its position in shares of 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 in the last quarter. Jag Capital Management LLC increased its position in Frontier Communications Parent by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock valued at $320,000 after purchasing an additional 445 shares during the period. Game Plan Financial Advisors LLC raised its holdings in shares of Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after purchasing an additional 500 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Frontier Communications Parent by 6.5% in the 3rd quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock worth $339,000 after purchasing an additional 581 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Frontier Communications Parent by 1.3% during 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 in the last quarter.

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of the company’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 sale, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $34.76 on Tuesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The company’s fifty day moving average price is $35.10 and its 200-day moving average price is $31.33. Frontier Communications Parent, Inc. has a 1-year low of $20.51 and a 1-year high of $39.21. The firm has a market capitalization of $8.66 billion, a PE ratio of -46.35 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data 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 firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on FYBR. Benchmark lowered Frontier Communications Parent from a “buy” rating to a “hold” rating in a report on Friday, December 6th. TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Frontier Communications Parent currently has an average rating of “Hold” and a consensus target price 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.