Bank of New York Mellon Corp Sells 33,917 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Bank of New York Mellon Corp decreased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,635,856 shares of the company’s stock after selling 33,917 shares during the period. Bank of New York Mellon Corp owned approximately 0.66% of Frontier Communications Parent worth $56,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after purchasing an additional 425 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at $50,000. Meeder Asset Management Inc. acquired a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at $52,000. Farther Finance Advisors LLC boosted its holdings in shares of Frontier Communications Parent by 80.8% during 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 in the last quarter. Finally, Quarry LP acquired a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at $91,000.

Frontier Communications Parent Stock Down 0.3 %

Shares of FYBR opened at $35.90 on Wednesday. The company has a market capitalization of $8.96 billion, a PE ratio of -27.83 and a beta of 1.05. Frontier Communications Parent, Inc. has a 12 month low of $21.31 and a 12 month high of $39.21. The stock’s 50-day moving average price is $35.54 and its two-hundred day moving average price is $34.80. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. On average, analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Wall Street Analyst Weigh In

FYBR has been the topic of several recent research reports. New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.31.

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.