Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by Alpine Associates Management Inc.

Alpine Associates Management Inc. grew its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 275.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,042,630 shares of the company’s stock after acquiring an additional 765,250 shares during the period. Frontier Communications Parent comprises approximately 2.2% of Alpine Associates Management Inc.’s portfolio, making the stock its 11th largest position. Alpine Associates Management Inc. owned 0.42% of Frontier Communications Parent worth $36,179,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FYBR. UMB Bank n.a. lifted its position in shares of Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 425 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Frontier Communications Parent during the 3rd quarter worth $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Frontier Communications Parent during the 3rd quarter worth $52,000. Farther Finance Advisors LLC lifted its position 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 last quarter. Finally, Quarry LP purchased a new stake in shares of Frontier Communications Parent during the 3rd quarter worth $91,000.

Insiders Place Their Bets

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the sale, the executive vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Frontier Communications Parent Trading Up 0.1 %

NASDAQ FYBR opened at $36.05 on Friday. 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 firm has a market cap of $9.00 billion, a PE ratio of -27.95 and a beta of 1.04. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The firm’s fifty day moving average is $35.62 and its two-hundred day moving average is $34.91.

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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current 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.