Cinctive Capital Management LP Purchases New Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Cinctive Capital Management LP acquired a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 570,000 shares of the company’s stock, valued at approximately $19,779,000. Frontier Communications Parent accounts for approximately 1.0% of Cinctive Capital Management LP’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. DLD Asset Management LP grew its position in shares of Frontier Communications Parent by 252.4% during the 4th quarter. DLD Asset Management LP now owns 149,437 shares of the company’s stock valued at $5,185,000 after buying an additional 107,027 shares during the last quarter. Headlands Technologies LLC acquired a new position in Frontier Communications Parent in the fourth quarter valued at approximately $460,000. Franklin Resources Inc. grew its holdings in shares of Frontier Communications Parent by 615.2% during the fourth quarter. Franklin Resources Inc. now owns 322,281 shares of the company’s stock valued at $11,183,000 after purchasing an additional 277,222 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Frontier Communications Parent by 411.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company’s stock worth $54,145,000 after purchasing an additional 1,255,180 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Frontier Communications Parent by 2,571.5% in the 4th quarter. Meeder Asset Management Inc. now owns 39,271 shares of the company’s stock worth $1,363,000 after purchasing an additional 37,801 shares during the last quarter.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on FYBR shares. New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Raymond James cut shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, Benchmark reissued 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 assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Trading Up 0.1 %

Shares of Frontier Communications Parent stock opened at $35.88 on Wednesday. The business has a fifty day simple moving average of $35.82 and a 200-day simple moving average of $35.40. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -27.81 and a beta of 1.04. Frontier Communications Parent, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. 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 (NASDAQ:FYBR) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The business had revenue of $1.51 billion during 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 forecast that Frontier Communications Parent, Inc. will post -1.11 EPS 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.