California Public Employees Retirement System Sells 58,776 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

California Public Employees Retirement System lowered its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,607 shares of the company’s stock after selling 58,776 shares during the period. California Public Employees Retirement System owned 0.15% of Frontier Communications Parent worth $12,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. boosted 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 valued at $36,000 after acquiring an additional 425 shares during the last quarter. Quarry LP bought a new position in shares of Frontier Communications Parent in the 3rd quarter valued at about $91,000. Blue Trust Inc. grew its position in Frontier Communications Parent by 36.8% in the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after acquiring an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Frontier Communications Parent in the fourth quarter worth about $228,000. Finally, Vestcor Inc bought a new stake in Frontier Communications Parent during the fourth quarter worth approximately $234,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James cut shares of 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 shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR 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. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of -27.63 and a beta of 1.01. Frontier Communications Parent, Inc. has a 52 week low of $21.31 and a 52 week high of $39.21. The firm has a 50 day moving average of $35.83 and a 200 day moving average of $35.40.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Thursday, February 20th. The company reported ($0.47) 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 for the quarter, compared to analysts’ expectations of $1.47 billion. On average, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Transactions at Frontier Communications Parent

In other 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 value of $1,296,360.00. Following the sale, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.