Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells $818,661.35 in Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, 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 legal filing with the SEC, which is accessible through this link.

Frontier Communications Parent Trading Up 0.3 %

Shares of Frontier Communications Parent stock opened at $34.80 on Friday. The firm has a market cap of $8.67 billion, a PE ratio of -46.40 and a beta of 1.10. 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 $20.42 and a 1 year high of $39.21. The stock has a fifty day moving average price of $35.40 and a 200-day moving average price of $30.25.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS 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 analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FYBR. The Goldman Sachs Group upped their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Finally, UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.31.

Institutional Trading of Frontier Communications Parent

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in shares of Frontier Communications Parent during the third quarter valued at about $586,000. Anthracite Investment Company Inc. purchased a new position in Frontier Communications Parent during the third quarter valued at approximately $1,743,000. Redwood Investment Management LLC bought a new stake in Frontier Communications Parent during the 1st quarter worth approximately $641,000. Luxor Capital Group LP lifted its stake in Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after purchasing an additional 43,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares during the period.

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.