Slotnik Capital LLC Makes New Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Slotnik Capital LLC acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 965,000 shares of the company’s stock, valued at approximately $34,286,000. Frontier Communications Parent accounts for about 11.5% of Slotnik Capital LLC’s holdings, making the stock its 3rd biggest position. Slotnik Capital LLC owned about 0.39% of Frontier Communications Parent at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $586,000. Anthracite Investment Company Inc. bought a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $1,743,000. Luxor Capital Group LP raised its stake in Frontier Communications Parent by 1.6% during the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after acquiring an additional 43,542 shares during the period. Dimensional Fund Advisors LP raised its stake in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after acquiring an additional 1,587,145 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Frontier Communications Parent by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after acquiring an additional 109,648 shares during the period.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FYBR shares. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Raymond James lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Finally, UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Up 0.1 %

NASDAQ FYBR opened at $34.81 on Friday. The business has a fifty day moving average price of $35.31 and a 200 day moving average price of $30.56. Frontier Communications Parent, Inc. has a one year low of $20.51 and a one year high of $39.21. 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 company has a market cap of $8.67 billion, a P/E ratio of -46.41 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results 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 company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. Research analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal 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.