KBC Group NV Grows Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

KBC Group NV lifted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 68.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,456 shares of the company’s stock after buying an additional 3,431 shares during the quarter. KBC Group NV’s holdings in Frontier Communications Parent were worth $293,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Frontier Communications Parent during the 3rd quarter worth $586,000. Anthracite Investment Company Inc. purchased a new position in Frontier Communications Parent during the third quarter worth about $1,743,000. Charles Schwab Investment Management Inc. boosted its stake in Frontier Communications Parent by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after buying an additional 109,648 shares during the last quarter. FORA Capital LLC purchased a new stake in Frontier Communications Parent in the 3rd quarter valued at about $2,299,000. Finally, Citigroup Inc. boosted its position in shares of Frontier Communications Parent by 106.9% in the third quarter. Citigroup Inc. now owns 239,893 shares of the company’s stock worth $8,523,000 after acquiring an additional 123,939 shares during the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $35.76 on Tuesday. Frontier Communications Parent, Inc. has a fifty-two week low of $20.51 and a fifty-two 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 $8.90 billion, a PE ratio of -47.68 and a beta of 1.05. The business has a 50 day moving average price of $35.07 and a two-hundred day moving average price of $33.61.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Benchmark downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Citigroup lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Finally, Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.31.

Insider Activity

In other Frontier Communications Parent 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 owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

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.