Corebridge Financial Inc. Decreases Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Corebridge Financial Inc. decreased its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 250,939 shares of the company’s stock after selling 10,834 shares during the period. Corebridge Financial Inc.’s holdings in Frontier Communications Parent were worth $8,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FYBR. Oregon Public Employees Retirement Fund boosted its stake in Frontier Communications Parent by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock valued at $1,565,000 after purchasing an additional 344 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Frontier Communications Parent by 0.8% during the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock valued at $1,588,000 after buying an additional 372 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock valued at $263,000 after buying an additional 377 shares during the last quarter. UMB Bank n.a. raised its position in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 425 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in Frontier Communications Parent by 2.5% in the 4th quarter. Natixis Advisors LLC now owns 19,324 shares of the company’s stock worth $671,000 after buying an additional 473 shares during the last quarter.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Trading Up 0.2 %

NASDAQ:FYBR opened at $35.91 on Friday. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The business has a fifty day moving average price of $35.81 and a 200-day moving average price of $35.40. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of -27.84 and a beta of 1.04. 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 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 company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FYBR shares. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Finally, New Street Research cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.31.

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.