Summit Investment Advisors Inc. Sells 994 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Summit Investment Advisors Inc. trimmed its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,390 shares of the company’s stock after selling 994 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Frontier Communications Parent were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. New York Life Investment Management LLC purchased a new stake in Frontier Communications Parent in the fourth quarter worth about $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $9,948,000. Raymond James Financial Inc. purchased a new stake in shares of Frontier Communications Parent in the 4th quarter worth approximately $2,065,000. Alpine Associates Management Inc. increased its position in Frontier Communications Parent by 275.9% during the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after buying an additional 765,250 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Frontier Communications Parent during the fourth quarter valued at $1,583,000.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $35.83 on Wednesday. The firm’s 50 day simple moving average is $35.82 and its 200-day simple moving average is $35.41. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The firm has a market cap of $8.97 billion, a PE ratio of -27.78 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Insider Activity at Frontier Communications Parent

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 transaction of $1,296,360.00. Following the transaction, the executive vice president now owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FYBR. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Communications Parent has an average rating of “Hold” and a consensus price target of $36.07.

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.