National Bank of Canada FI Has $2.05 Million Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

National Bank of Canada FI lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 73.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,797 shares of the company’s stock after buying an additional 24,542 shares during the period. National Bank of Canada FI’s holdings in Frontier Communications Parent were worth $2,054,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FYBR. SG Americas Securities LLC raised its position in Frontier Communications Parent by 117.1% in the second quarter. SG Americas Securities LLC now owns 14,745 shares of the company’s stock valued at $386,000 after purchasing an additional 7,952 shares during the last quarter. Blue Trust Inc. boosted its position in Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 shares during the period. Raymond James & Associates grew its holdings in Frontier Communications Parent by 7.0% during the 2nd quarter. Raymond James & Associates now owns 56,833 shares of the company’s stock worth $1,488,000 after acquiring an additional 3,728 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Frontier Communications Parent during the second quarter valued at $185,000. Finally, SummerHaven Investment Management LLC raised its stake in shares of Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after acquiring an additional 585 shares during the last quarter.

Frontier Communications Parent Stock Down 0.0 %

Frontier Communications Parent stock opened at $34.65 on Friday. 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 capitalization of $8.63 billion, a PE ratio of -46.20 and a beta of 1.05. The firm’s fifty day moving average is $35.11 and its 200 day moving average is $31.20. Frontier Communications Parent, Inc. has a 12-month low of $20.51 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company earned $0.05 EPS. Frontier Communications Parent’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the 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 in the company, valued at $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 is available at this link. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FYBR. Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.