Connor Clark & Lunn Investment Management Ltd. Increases Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,087 shares of the company’s stock after buying an additional 1,116 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Frontier Communications Parent were worth $697,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New York Life Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $9,148,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $9,948,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Frontier Communications Parent by 5.0% during 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 buying an additional 109,648 shares during the last quarter. Alpine Associates Management Inc. grew its holdings in shares of Frontier Communications Parent by 275.9% during the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after buying an additional 765,250 shares during the last quarter. Finally, Silphium Asset Management Ltd purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $10,410,000.

Insider Buying and Selling

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Trading Down 0.4 %

Shares of Frontier Communications Parent stock opened at $35.79 on Friday. The firm has a 50-day simple moving average of $35.78 and a two-hundred day simple moving average of $35.36. The company has a market cap of $8.94 billion, a P/E ratio of -27.74 and a beta of 1.04. Frontier Communications Parent, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last issued 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. As a group, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on FYBR. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Finally, 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. 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.