6,748 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Purchased by Vestcor Inc

Vestcor Inc acquired a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,748 shares of the company’s stock, valued at approximately $234,000.

Several other large investors have also made changes to their positions in FYBR. GSA Capital Partners LLP acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $586,000. Victory Capital Management Inc. lifted its position in shares of Frontier Communications Parent by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock worth $2,364,000 after purchasing an additional 2,669 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $499,000. CIBC Asset Management Inc acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $255,000. Finally, Natixis Advisors LLC lifted its position in shares of Frontier Communications Parent by 10.4% during the 3rd quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock worth $670,000 after purchasing an additional 1,778 shares during the last quarter.

Insider Activity at Frontier Communications Parent

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. New Street Research cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $35.77 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 company has a market capitalization of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The business has a 50 day simple moving average of $35.75 and a 200 day simple moving average of $35.30.

Frontier Communications Parent (NASDAQ:FYBR) last posted 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 company 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, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

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.