Oak Thistle LLC Sells 4,737 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Oak Thistle LLC lowered its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 22.5% in the fourth quarter, HoldingsChannel reports. The firm owned 16,339 shares of the company’s stock after selling 4,737 shares during the period. Oak Thistle LLC’s holdings in Frontier Communications Parent were worth $567,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FYBR. Dimensional Fund Advisors LP boosted its stake in Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after purchasing an additional 1,587,145 shares in the last quarter. Slotnik Capital LLC acquired a new position in Frontier Communications Parent during the 3rd quarter worth about $34,286,000. Sand Grove Capital Management LLP bought a new stake in Frontier Communications Parent during the 3rd quarter worth about $18,490,000. Anchorage Capital Advisors L.P. increased its position in Frontier Communications Parent by 26.6% in 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 in the last quarter. Finally, Columbus Hill Capital Management L.P. lifted its position in shares of Frontier Communications Parent by 345.7% during the second quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company’s stock worth $11,670,000 after purchasing an additional 345,744 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FYBR. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. TD Cowen cut Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.50 in a report on Tuesday, October 8th. Finally, Benchmark cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Trading Down 0.0 %

Shares of NASDAQ FYBR opened at $35.50 on Friday. Frontier Communications Parent, Inc. has a twelve month low of $20.51 and a twelve month high of $39.21. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of -47.33 and a beta of 1.05. 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 company’s fifty day moving average is $34.80 and its 200-day moving average is $32.73.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. Equities research analysts predict that Frontier Communications Parent, Inc. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 23,491 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

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.