ABC Arbitrage SA Acquires Shares of 151,560 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

ABC Arbitrage SA purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 151,560 shares of the company’s stock, valued at approximately $5,259,000. Frontier Communications Parent accounts for about 0.8% of ABC Arbitrage SA’s investment portfolio, making the stock its 29th largest holding. ABC Arbitrage SA owned approximately 0.06% of Frontier Communications Parent at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Slotnik Capital LLC bought a new stake in Frontier Communications Parent during the 3rd quarter valued at $34,286,000. Sand Grove Capital Management LLP purchased a new position in shares of Frontier Communications Parent in the third quarter valued at about $18,490,000. Anchorage Capital Advisors L.P. raised its stake in shares of Frontier Communications Parent by 26.6% during the third 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 during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Frontier Communications Parent by 1,283.8% during the fourth quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock worth $11,159,000 after purchasing an additional 298,339 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $9,948,000.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 121,182 shares in the company, valued at $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FYBR shares. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

NASDAQ FYBR opened at $35.73 on Friday. The firm’s fifty day simple moving average is $35.27 and its two-hundred day simple moving average is $34.04. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 12-month low of $20.51 and a 12-month high of $39.21.

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.