Thematics Asset Management Cuts Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Thematics Asset Management lowered its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 21.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 190,244 shares of the company’s stock after selling 52,259 shares during the period. Thematics Asset Management’s holdings in Frontier Communications Parent were worth $6,759,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent in the 2nd quarter worth $37,000. Capital Performance Advisors LLP bought a new position in Frontier Communications Parent during the 3rd quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent in the 3rd quarter worth approximately $52,000. Blue Trust Inc. boosted its stake in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after buying an additional 811 shares during the period.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock traded down $0.05 during trading on Tuesday, hitting $34.83. 175,118 shares of the company’s stock traded hands, compared to its average volume of 2,247,408. Frontier Communications Parent, Inc. has a 1 year low of $20.42 and a 1 year high of $39.21. The business has a 50-day simple moving average of $35.35 and a 200-day simple moving average of $30.44. The stock has a market capitalization of $8.67 billion, a P/E ratio of -46.51 and a beta of 1.10. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on FYBR shares. 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 cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Frontier Communications Parent in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Finally, Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.31.

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.