Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 18.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,420 shares of the company’s stock after selling 1,450 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Frontier Communications Parent were worth $228,000 at the end of the most recent reporting period.

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

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value 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. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. 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 research note on Friday, September 6th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Frontier Communications Parent currently has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Up 0.1 %

FYBR stock opened at $34.81 on Monday. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market cap of $8.67 billion, a P/E ratio of -46.41 and a beta of 1.10. The company’s 50-day simple moving average is $35.29 and its 200-day simple moving average is $30.66.

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