Redwood Investment Management LLC Cuts Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Redwood Investment Management LLC lowered its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 15.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,470 shares of the company’s stock after selling 3,180 shares during the period. Redwood Investment Management LLC’s holdings in Frontier Communications Parent were worth $624,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FYBR. International Assets Investment Management LLC acquired a new stake in Frontier Communications Parent in the 2nd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Frontier Communications Parent in the third quarter worth about $50,000. Meeder Asset Management Inc. acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at about $52,000. Blue Trust Inc. raised its holdings in shares of Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after buying an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after acquiring an additional 811 shares in the last quarter.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent 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 sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen lowered shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Finally, UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Performance

FYBR opened at $34.64 on Friday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $8.63 billion, a PE ratio of -46.03 and a beta of 1.05. The stock has a 50-day moving average of $35.21 and a 200-day moving average of $30.85. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21.

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

Frontier Communications Parent 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.