ExodusPoint Capital Management LP Takes $11.18 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

ExodusPoint Capital Management LP purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 322,230 shares of the company’s stock, valued at approximately $11,181,000. ExodusPoint Capital Management LP owned about 0.13% of Frontier Communications Parent at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FYBR. UMB Bank n.a. increased its holdings in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 425 shares during the last quarter. Quarry LP acquired a new position in Frontier Communications Parent in the third quarter worth $91,000. Blue Trust Inc. increased its stake in Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock valued at $209,000 after purchasing an additional 1,581 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth $228,000. Finally, Vestcor Inc bought a new position in shares of Frontier Communications Parent in the 4th quarter worth about $234,000.

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $35.64 on Friday. Frontier Communications Parent, Inc. has a 12-month low of $21.31 and a 12-month high of $39.21. The stock has a market capitalization of $8.90 billion, a P/E ratio of -27.63 and a beta of 1.01. The firm’s 50 day moving average is $35.83 and its 200-day moving average is $35.40. 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 quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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