Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells $1,296,360.00 in Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Frontier Communications Parent Price Performance

FYBR stock opened at $36.05 on Friday. Frontier Communications Parent, Inc. has a 52-week low of $21.31 and a 52-week high of $39.21. The stock’s fifty day simple moving average is $35.59 and its 200-day simple moving average is $34.82. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of -27.95 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last posted 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). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Frontier Communications Parent during the third quarter worth $586,000. Anthracite Investment Company Inc. acquired a new position in Frontier Communications Parent in the third quarter valued at $1,743,000. New York Life Investment Management LLC acquired a new position in Frontier Communications Parent in the fourth quarter valued at $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in Frontier Communications Parent in the fourth quarter valued at $9,948,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock valued at $82,108,000 after acquiring an additional 109,648 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on FYBR. 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 downgraded 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 report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.31.

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.