Victory Capital Management Inc. Purchases 2,669 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Victory Capital Management Inc. boosted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,529 shares of the company’s stock after acquiring an additional 2,669 shares during the period. Victory Capital Management Inc.’s holdings in Frontier Communications Parent were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent in the 2nd quarter valued at approximately $37,000. Capital Performance Advisors LLP bought a new stake in shares of Frontier Communications Parent during the third quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in shares of Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after acquiring an additional 811 shares during the period. Blue Trust Inc. lifted its position in Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Frontier Communications Parent has an average rating of “Hold” and an average target price of $35.31.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 23,491 shares of the 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 transaction, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Frontier Communications Parent Stock Up 0.2 %

Frontier Communications Parent stock opened at $34.87 on Monday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50-day moving average is $35.37 and its 200-day moving average is $30.38. The firm has a market capitalization of $8.68 billion, a PE ratio of -46.49 and a beta of 1.10. Frontier Communications Parent, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share (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 the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. Frontier Communications Parent’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current 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.