Harbor Advisors LLC Takes $533,000 Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Harbor Advisors LLC bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,000 shares of the company’s stock, valued at approximately $533,000.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of Frontier Communications Parent in the second quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent in the 3rd quarter valued at $50,000. Meeder Asset Management Inc. purchased a new position in Frontier Communications Parent in the third quarter valued at $52,000. Blue Trust Inc. raised its stake in Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $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% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after acquiring an additional 811 shares in the last quarter.

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the sale, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This trade represents a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on FYBR. Benchmark reissued a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group lifted 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. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.3 %

NASDAQ:FYBR opened at $34.72 on Tuesday. The business’s 50 day moving average is $35.29 and its two-hundred day moving average is $30.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 52 week low of $20.51 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, research analysts predict that Frontier Communications Parent, Inc. will post -0.83 earnings per share 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.