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

Charles Schwab Investment Management Inc. increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,310,952 shares of the company’s stock after purchasing an additional 109,648 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Frontier Communications Parent were worth $82,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the second quarter worth about $37,000. Capital Performance Advisors LLP acquired a new stake in Frontier Communications Parent during the third quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new stake in Frontier Communications Parent in the 3rd quarter worth approximately $52,000. Blue Trust Inc. raised its holdings 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 during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after purchasing an additional 811 shares during the period.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at $4,223,192.70. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FYBR has been the subject of several analyst reports. UBS Group lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. The Goldman Sachs Group upped their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Finally, BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $34.78 on Thursday. Frontier Communications Parent, Inc. has a twelve month low of $20.42 and a twelve month high of $39.21. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of -46.37 and a beta of 1.10. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm’s fifty day simple moving average is $35.33 and its 200 day simple moving average is $30.50.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.