PNC Financial Services Group Inc. Sells 354 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

PNC Financial Services Group Inc. reduced its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,857 shares of the company’s stock after selling 354 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Frontier Communications Parent were worth $273,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Frontier Communications Parent during the fourth quarter valued at approximately $2,065,000. Arizona State Retirement System lifted its holdings in shares of Frontier Communications Parent by 7.7% during the fourth quarter. Arizona State Retirement System now owns 57,796 shares of the company’s stock valued at $2,006,000 after purchasing an additional 4,119 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Frontier Communications Parent during the fourth quarter valued at $1,583,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Frontier Communications Parent by 0.5% during 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 purchasing an additional 12,251 shares in the last quarter. Finally, Silphium Asset Management Ltd bought a new position in Frontier Communications Parent in the fourth quarter valued at about $10,410,000.

Insider Buying and Selling

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 stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $35.79 on Friday. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of -27.74 and a beta of 1.04. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21. The business has a 50 day simple moving average of $35.78 and a 200-day simple moving average of $35.41. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.47 billion. Equities analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Frontier Communications Parent

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.