Insider Selling: Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells 23,491 Shares of Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $34.75 on Wednesday. Frontier Communications Parent, Inc. has a 52 week low of $20.42 and a 52 week high of $39.21. The company has a fifty day simple moving average of $35.45 and a two-hundred day simple moving average of $30.19. 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 company has a market cap of $8.65 billion, a price-to-earnings ratio of -46.33 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.05 earnings per share. As a group, equities analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on FYBR. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Nine 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 company currently has an average rating of “Hold” and a consensus target price of $35.31.

Institutional Trading of Frontier Communications Parent

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

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.