Alliancebernstein L.P. Buys 1,255,180 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Alliancebernstein L.P. boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 411.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,560,375 shares of the company’s stock after purchasing an additional 1,255,180 shares during the period. Alliancebernstein L.P. owned about 0.63% of Frontier Communications Parent worth $54,145,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in Frontier Communications Parent by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock worth $1,565,000 after acquiring an additional 344 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Frontier Communications Parent by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock valued at $1,588,000 after acquiring an additional 372 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock worth $263,000 after acquiring an additional 377 shares in the last quarter. UMB Bank n.a. increased its position in shares of Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 425 shares during the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Frontier Communications Parent by 2.5% in the fourth quarter. Natixis Advisors LLC now owns 19,324 shares of the company’s stock valued at $671,000 after buying an additional 473 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Trading Down 0.8 %

Shares of Frontier Communications Parent stock opened at $35.64 on Friday. 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 $21.31 and a 12-month high of $39.21. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of -27.63 and a beta of 1.01. The firm’s 50-day moving average price is $35.83 and its two-hundred day moving average price is $35.40.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data 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 the consensus estimate of $1.47 billion. On average, analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

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.