Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,884 shares of the company’s stock after selling 8,235 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Frontier Communications Parent worth $6,498,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC acquired a new stake in shares of Frontier Communications Parent during the second quarter worth about $37,000. Capital Performance Advisors LLP acquired a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $50,000. Meeder Asset Management Inc. acquired a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $52,000. Farther Finance Advisors LLC grew its stake 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 purchasing an additional 811 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares during the period.

Frontier Communications Parent Trading Up 0.1 %

FYBR stock opened at $34.52 on Friday. 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 company has a market cap of $8.60 billion, a price-to-earnings ratio of -46.03 and a beta of 1.05. The business has a fifty day simple moving average of $35.23 and a 200-day simple moving average of $30.82. 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 posted its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The business had revenue of $1.49 billion for 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 EPS for the current year.

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the firm’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 completion of the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FYBR. 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. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Frontier Communications Parent in a research note on Thursday, September 5th. BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Finally, 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 report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.31.

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.