American Century Companies Inc. Sells 8,563 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

American Century Companies Inc. cut its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,703,810 shares of the company’s stock after selling 8,563 shares during the period. American Century Companies Inc.’s holdings in Frontier Communications Parent were worth $59,122,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Slotnik Capital LLC acquired a new position in Frontier Communications Parent during the third quarter worth $34,286,000. Alpine Associates Management Inc. raised its position in 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 worth $36,179,000 after acquiring an additional 765,250 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Frontier Communications Parent in the fourth quarter valued at $25,157,000. Alberta Investment Management Corp bought a new position in shares of Frontier Communications Parent in the 4th quarter valued at about $24,863,000. Finally, Amundi increased its stake in shares of Frontier Communications Parent by 1,363.0% during the 4th quarter. Amundi now owns 746,109 shares of the company’s stock worth $26,345,000 after purchasing an additional 695,109 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FYBR. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, New Street Research cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Down 0.0 %

FYBR stock opened at $35.75 on Wednesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The business’s fifty day moving average price is $35.80 and its two-hundred day moving average price is $35.40. Frontier Communications Parent, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of -27.71 and a beta of 1.04.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. On average, equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.