Dark Forest Capital Management LP Acquires New Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Dark Forest Capital Management LP bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,905 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 303,545 shares during the period. Norges Bank acquired a new position in Frontier Communications Parent during the fourth quarter worth about $191,247,000. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 12,251 shares during the period. Magnetar Financial LLC grew its holdings in Frontier Communications Parent by 37.7% during the fourth quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company’s stock worth $62,926,000 after acquiring an additional 496,750 shares during the period. Finally, Quinn Opportunity Partners LLC grew its holdings in Frontier Communications Parent by 19.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,569,519 shares of the company’s stock worth $54,462,000 after acquiring an additional 250,050 shares during the period.

Wall Street Analysts Forecast Growth

FYBR has been the topic of a number of research analyst reports. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.07.

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value 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 $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Frontier Communications Parent Stock Up 0.1 %

FYBR stock opened at $36.25 on Tuesday. The company has a 50 day moving average of $35.89 and a two-hundred day moving average of $35.46. The company has a market cap of $9.07 billion, a price-to-earnings ratio of -28.10 and a beta of 1.01. Frontier Communications Parent, Inc. has a 12-month low of $22.80 and a 12-month high of $39.21. 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 (NASDAQ:FYBR) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. On average, equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.