Connor Clark & Lunn Investment Management Ltd. Grows Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 21.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,971 shares of the company’s stock after purchasing an additional 3,354 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Frontier Communications Parent were worth $674,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent in the second quarter valued at $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at about $50,000. Meeder Asset Management Inc. purchased a new position in shares of Frontier Communications Parent in the 3rd quarter valued at about $52,000. Blue Trust Inc. raised its holdings in Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after purchasing an additional 811 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FYBR shares. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Citigroup cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. The Goldman Sachs Group upped their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Wolfe Research cut Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Price Performance

FYBR stock opened at $34.78 on Friday. Frontier Communications Parent, Inc. has a 1 year low of $20.42 and a 1 year high of $39.21. 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 has a market capitalization of $8.66 billion, a PE ratio of -46.37 and a beta of 1.10. The business has a 50 day simple moving average of $35.32 and a 200-day simple moving average of $30.53.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company earned $0.05 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by company insiders.

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.