151,560 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Acquired by ABC Arbitrage SA

ABC Arbitrage SA bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 151,560 shares of the company’s stock, valued at approximately $5,259,000. Frontier Communications Parent accounts for 0.8% of ABC Arbitrage SA’s investment portfolio, making the stock its 29th largest holding.

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings 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 worth $1,588,000 after purchasing an additional 372 shares during the period. UMB Bank n.a. lifted its stake in shares of 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 acquiring an additional 425 shares during the period. Jag Capital Management LLC boosted its holdings in shares of Frontier Communications Parent by 5.2% in the third quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock valued at $320,000 after acquiring an additional 445 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Frontier Communications Parent by 6.5% during the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock worth $339,000 after acquiring an additional 581 shares during the period. Finally, US Bancorp DE raised its holdings in Frontier Communications Parent by 8.4% during the third quarter. US Bancorp DE now owns 7,750 shares of the company’s stock worth $275,000 after purchasing an additional 598 shares in the last quarter.

Frontier Communications Parent Trading Down 0.0 %

Shares of FYBR opened at $35.73 on Friday. Frontier Communications Parent, Inc. has a 52 week low of $20.51 and a 52 week high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a 50 day moving average of $35.27 and a 200-day moving average of $34.04.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FYBR. Benchmark cut Frontier Communications Parent from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.31.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

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.