Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,494 shares of the company’s stock after selling 9,035 shares during the quarter. Victory Capital Management Inc.’s holdings in Frontier Communications Parent were worth $1,995,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Frontier Communications Parent by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after buying an additional 12,251 shares in the last quarter. Silphium Asset Management Ltd acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $10,410,000. Proficio Capital Partners LLC acquired a new position in shares of Frontier Communications Parent during the fourth quarter worth $1,583,000. New York Life Investment Management LLC purchased a new position in shares of Frontier Communications Parent in the fourth quarter valued at $9,148,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in Frontier Communications Parent by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock valued at $1,565,000 after purchasing an additional 344 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Finally, Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Frontier Communications Parent currently has a consensus rating of “Hold” and an average price target of $35.31.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Frontier Communications Parent Trading Down 0.2 %

NASDAQ:FYBR opened at $35.76 on Tuesday. Frontier Communications Parent, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The stock has a market capitalization of $8.93 billion, a PE ratio of -27.72 and a beta of 1.04. The business’s 50-day simple moving average is $35.74 and its 200-day simple moving average is $35.26. 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 (NASDAQ:FYBR) last released its quarterly earnings results 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). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Frontier Communications Parent Company 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.