Mint Tower Capital Management B.V. Acquires New Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mint Tower Capital Management B.V. bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 51,075 shares of the company’s stock, valued at approximately $1,772,000.

Several other large investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its stake in Frontier Communications Parent by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock valued at $1,565,000 after buying an additional 344 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Frontier Communications Parent by 0.8% during the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after acquiring an additional 372 shares during the period. CIBC Asset Management Inc boosted its position in shares of Frontier Communications Parent by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock valued at $263,000 after acquiring an additional 377 shares during the period. UMB Bank n.a. raised its holdings in 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 in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Frontier Communications Parent by 2.5% in the 4th 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.

Insiders Place Their Bets

In related 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 directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FYBR shares. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $35.83 on Thursday. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of -27.78 and a beta of 1.04. Frontier Communications Parent, Inc. has a 52-week low of $21.31 and a 52-week high of $39.21. The stock’s 50 day moving average price is $35.80 and its two-hundred day moving average price is $35.40. 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 (NASDAQ:FYBR) last issued its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. On average, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

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.