Meeder Asset Management Inc. Purchases 37,801 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Meeder Asset Management Inc. boosted its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2,571.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,271 shares of the company’s stock after acquiring an additional 37,801 shares during the period. Meeder Asset Management Inc.’s holdings in Frontier Communications Parent were worth $1,363,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FYBR. Vanguard Group Inc. raised its position in shares of Frontier Communications Parent by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company’s stock worth $842,412,000 after purchasing an additional 303,545 shares during the period. Norges Bank bought a new stake in Frontier Communications Parent during the 4th quarter valued at $191,247,000. Charles Schwab Investment Management Inc. raised its holdings in Frontier Communications Parent by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock worth $80,615,000 after buying an additional 12,251 shares during the last quarter. Magnetar Financial LLC lifted its stake in shares of Frontier Communications Parent by 37.7% in the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company’s stock valued at $62,926,000 after buying an additional 496,750 shares in the last quarter. Finally, Highbridge Capital Management LLC grew its holdings in shares of Frontier Communications Parent by 375.0% during the fourth quarter. Highbridge Capital Management LLC now owns 1,084,546 shares of the company’s stock valued at $37,634,000 after buying an additional 856,218 shares during the last quarter.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $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 this link. 1.40% of the stock is currently owned by company insiders.

Frontier Communications Parent Stock Down 0.1 %

FYBR stock opened at $35.89 on Monday. Frontier Communications Parent, Inc. has a 1-year low of $21.31 and a 1-year high of $39.21. The stock has a market cap of $8.96 billion, a P/E ratio of -27.82 and a beta of 1.04. The stock’s fifty day simple moving average is $35.82 and its two-hundred day simple moving average is $35.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.