Neo Ivy Capital Management Buys Shares of 6,736 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Neo Ivy Capital Management purchased a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,736 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors have also modified their holdings of FYBR. GAMMA Investing LLC raised its stake in Frontier Communications Parent by 18.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after acquiring an additional 444 shares in the last quarter. Jag Capital Management LLC boosted its position in shares of Frontier Communications Parent by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock valued at $320,000 after purchasing an additional 445 shares during the period. Game Plan Financial Advisors LLC boosted its position in shares of Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after purchasing an additional 500 shares during the period. Captrust Financial Advisors grew its stake in Frontier Communications Parent by 6.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock worth $339,000 after buying an additional 581 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock worth $1,173,000 after buying an additional 585 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FYBR shares. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Finally, Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $34.66 on Friday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent, Inc. has a 1-year low of $20.51 and a 1-year high of $39.21. The firm has a market capitalization of $8.63 billion, a P/E ratio of -46.21 and a beta of 1.05. The business’s 50-day simple moving average is $35.12 and its 200-day simple moving average is $31.13.

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

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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.