Franklin Resources Inc. Purchases 277,222 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Franklin Resources Inc. raised its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 615.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 322,281 shares of the company’s stock after purchasing an additional 277,222 shares during the quarter. Franklin Resources Inc.’s holdings in Frontier Communications Parent were worth $11,183,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Captrust Financial Advisors lifted its position in shares of Frontier Communications Parent by 6.5% in the third quarter. Captrust Financial Advisors now owns 9,540 shares of the company’s stock valued at $339,000 after acquiring an additional 581 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Frontier Communications Parent in the 3rd quarter worth approximately $1,990,000. National Bank of Canada FI boosted its stake in Frontier Communications Parent by 73.8% in the 3rd quarter. National Bank of Canada FI now owns 57,797 shares of the company’s stock worth $2,054,000 after purchasing an additional 24,542 shares during the period. XTX Topco Ltd bought a new position in Frontier Communications Parent in the 3rd quarter worth approximately $618,000. Finally, Barclays PLC grew its holdings in Frontier Communications Parent by 39.7% during the 3rd quarter. Barclays PLC now owns 99,969 shares of the company’s stock valued at $3,553,000 after buying an additional 28,417 shares in the last quarter.

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the business’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 in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Up 0.1 %

FYBR stock opened at $35.54 on Wednesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm’s fifty day simple moving average is $35.82 and its 200-day simple moving average is $35.40. Frontier Communications Parent, Inc. has a 12 month low of $21.31 and a 12 month high of $39.21. The company has a market capitalization of $8.87 billion, a P/E ratio of -27.55 and a beta of 1.01.

Frontier Communications Parent (NASDAQ:FYBR) last announced 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). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

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.