AGF Management Ltd. Buys Shares of 74,967 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

AGF Management Ltd. purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 74,967 shares of the company’s stock, valued at approximately $2,601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. US Bancorp DE lifted its stake in Frontier Communications Parent by 8.4% in the third quarter. US Bancorp DE now owns 7,750 shares of the company’s stock valued at $275,000 after buying an additional 598 shares during the period. Farther Finance Advisors LLC raised its position in shares of Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after acquiring an additional 811 shares during the period. GSA Capital Partners LLP bought a new position in Frontier Communications Parent during the 3rd quarter worth approximately $586,000. Aigen Investment Management LP boosted its stake in Frontier Communications Parent by 21.3% during the 3rd quarter. Aigen Investment Management LP now owns 10,453 shares of the company’s stock worth $371,000 after acquiring an additional 1,836 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Frontier Communications Parent by 4.2% during the third quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock valued at $2,364,000 after purchasing an additional 2,669 shares during the period.

Frontier Communications Parent Stock Performance

FYBR opened at $35.84 on Friday. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of -27.78 and a beta of 1.04. The business’s 50-day moving average price is $35.71 and its two-hundred day moving average price is $35.07. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Equities analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FYBR. New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Company 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.