Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 235,372 shares of the company’s stock after selling 5,111 shares during the quarter. Ameriprise Financial Inc.’s holdings in Frontier Communications Parent were worth $8,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Frontier Communications Parent by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company’s stock valued at $842,412,000 after buying an additional 303,545 shares during the last quarter. Norges Bank purchased a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $191,247,000. Tudor Investment Corp ET AL purchased a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $114,555,000. Adage Capital Partners GP L.L.C. lifted its stake in Frontier Communications Parent by 472.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company’s stock valued at $109,295,000 after buying an additional 2,599,714 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Frontier Communications Parent by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after buying an additional 12,251 shares during the last quarter.

Frontier Communications Parent Trading Down 0.2%

NASDAQ:FYBR opened at $36.77 on Thursday. The stock has a fifty day moving average price of $36.11 and a two-hundred day moving average price of $35.55. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of -28.50 and a beta of 1.01. 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 1 year low of $24.43 and a 1 year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FYBR has been the subject of a number of research reports. Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. New Street Research cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a research note 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 assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.07.

Insiders Place Their Bets

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $2,755,593.23. This 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 accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

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.