Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP Sells $818,661.35 in Stock

Frontier Communications Parent, Inc. (NASDAQ:FYBR) EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Frontier Communications Parent Stock Performance

FYBR opened at $34.80 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of -46.40 and a beta of 1.10. Frontier Communications Parent, Inc. has a 12-month low of $20.42 and a 12-month high of $39.21. The business has a 50 day moving average of $35.40 and a 200-day moving average of $30.25.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) 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 analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. Frontier Communications Parent’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Frontier Communications Parent during the second quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new position in Frontier Communications Parent in the 3rd quarter valued at $50,000. Meeder Asset Management Inc. bought a new position in Frontier Communications Parent during the 3rd quarter worth $52,000. Blue Trust Inc. lifted its holdings in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after acquiring an additional 811 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen cut Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.31.

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.