Frontier Communications Parent, Inc. (NASDAQ:FYBR) Given Average Rating of “Hold” by Brokerages

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $35.31.

Several equities analysts have commented on FYBR shares. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday.

Frontier Communications Parent Stock Performance

FYBR stock opened at $35.79 on Monday. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of -47.72 and a beta of 1.05. The firm has a 50 day moving average of $35.15 and a two-hundred day moving average of $33.86. 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 has a 12 month low of $20.51 and a 12 month high of $39.21.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the transaction, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Communications Parent

Institutional investors have recently added to or reduced their stakes in the company. Slotnik Capital LLC acquired a new position in Frontier Communications Parent in the 3rd quarter valued at approximately $34,286,000. Alpine Associates Management Inc. raised its stake in shares of Frontier Communications Parent by 275.9% in the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after purchasing an additional 765,250 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Frontier Communications Parent in the fourth quarter valued at $24,863,000. Amundi boosted its stake in Frontier Communications Parent by 1,363.0% during the fourth quarter. Amundi now owns 746,109 shares of the company’s stock worth $26,345,000 after buying an additional 695,109 shares in the last quarter. Finally, Sand Grove Capital Management LLP bought a new stake in Frontier Communications Parent in the 3rd quarter valued at $18,490,000.

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.