Charles Schwab Investment Management Inc. Raises Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Charles Schwab Investment Management Inc. boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,323,203 shares of the company’s stock after buying an additional 12,251 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.93% of Frontier Communications Parent worth $80,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Anchorage Capital Advisors L.P. raised its holdings in Frontier Communications Parent by 26.6% in the 3rd quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock valued at $61,451,000 after buying an additional 362,888 shares during the period. Slotnik Capital LLC purchased a new stake in Frontier Communications Parent during the third quarter worth about $34,286,000. Alberta Investment Management Corp purchased a new stake in Frontier Communications Parent during the fourth quarter worth about $24,863,000. Rhumbline Advisers increased its stake in Frontier Communications Parent by 1.0% during the fourth quarter. Rhumbline Advisers now owns 629,712 shares of the company’s stock worth $21,851,000 after purchasing an additional 6,328 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Frontier Communications Parent by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,310 shares of the company’s stock worth $20,085,000 after purchasing an additional 6,800 shares during the period.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $35.87 on Tuesday. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The company has a market cap of $8.96 billion, a PE ratio of -27.81 and a beta of 1.04. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The business has a 50-day simple moving average of $35.64 and a 200-day simple moving average of $35.01.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The company 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%. On average, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FYBR. Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One equities 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 data from MarketBeat.com, Frontier Communications Parent currently has a consensus rating of “Hold” and an average target price of $35.31.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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.