Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by Algert Global LLC

Algert Global LLC boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 138.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 101,460 shares of the company’s stock after acquiring an additional 58,866 shares during the period. Algert Global LLC’s holdings in Frontier Communications Parent were worth $3,605,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Frontier Communications Parent during the third quarter worth approximately $586,000. Anthracite Investment Company Inc. acquired a new stake in Frontier Communications Parent during the third quarter worth approximately $1,743,000. Redwood Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the 1st quarter worth approximately $641,000. Luxor Capital Group LP boosted its holdings in shares of Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after buying an additional 43,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after buying an additional 1,587,145 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Wolfe Research cut Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.31.

Insiders Place Their Bets

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $34.88 on Tuesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of -46.51 and a beta of 1.10. The firm’s fifty day moving average price is $35.35 and its 200 day moving average price is $30.44. Frontier Communications Parent, Inc. has a 1-year low of $20.42 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. On average, sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

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.