Slotnik Capital LLC Has $35.26 Million Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Slotnik Capital LLC boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,016,035 shares of the company’s stock after purchasing an additional 51,035 shares during the period. Frontier Communications Parent makes up approximately 15.9% of Slotnik Capital LLC’s holdings, making the stock its largest position. Slotnik Capital LLC’s holdings in Frontier Communications Parent were worth $35,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cinctive Capital Management LP bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $19,779,000. DLD Asset Management LP raised its stake in Frontier Communications Parent by 252.4% during the 4th quarter. DLD Asset Management LP now owns 149,437 shares of the company’s stock worth $5,185,000 after acquiring an additional 107,027 shares during the period. Headlands Technologies LLC purchased a new position in Frontier Communications Parent during the fourth quarter valued at approximately $460,000. Franklin Resources Inc. boosted its position in shares of Frontier Communications Parent by 615.2% in the fourth quarter. Franklin Resources Inc. now owns 322,281 shares of the company’s stock worth $11,183,000 after purchasing an additional 277,222 shares during the period. Finally, 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 valued at $54,145,000 after purchasing an additional 1,255,180 shares during the period.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FYBR has been the subject of several recent analyst reports. 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. Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research 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 investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

Shares of Frontier Communications Parent stock opened at $36.05 on Thursday. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of -27.95 and a beta of 1.04. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day moving average price of $35.83 and a 200-day moving average price of $35.40. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data 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 the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Equities analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS 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.