Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by NBC Securities Inc.

NBC Securities Inc. lessened its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 34.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,755 shares of the company’s stock after selling 36,157 shares during the period. NBC Securities Inc.’s holdings in Frontier Communications Parent were worth $2,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Frontier Communications Parent by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company’s stock worth $607,253,000 after purchasing an additional 136,350 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Frontier Communications Parent by 11.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock worth $180,000 after buying an additional 732 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Frontier Communications Parent by 100.9% in the first quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock valued at $62,000 after buying an additional 1,267 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Frontier Communications Parent by 11.0% in the first quarter. Wedmont Private Capital now owns 9,435 shares of the company’s stock worth $227,000 after buying an additional 935 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its stake in Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FYBR. TD Cowen lowered shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. The Goldman Sachs Group raised their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Frontier Communications Parent presently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Trading Up 1.9 %

NASDAQ FYBR traded up $0.66 during trading hours on Tuesday, reaching $35.91. The company had a trading volume of 5,699,202 shares, compared to its average volume of 2,048,755. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $8.93 billion, a P/E ratio of 320.45 and a beta of 1.10. The stock has a 50-day moving average of $32.58 and a 200 day moving average of $28.00. Frontier Communications Parent, Inc. has a 1-year low of $16.29 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

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.