K2 Principal Fund L.P. Acquires Shares of 71,074 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

K2 Principal Fund L.P. bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 71,074 shares of the company’s stock, valued at approximately $2,466,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Frontier Communications Parent during the 4th quarter valued at approximately $191,247,000. Tudor Investment Corp ET AL acquired a new position in shares of Frontier Communications Parent in the fourth quarter worth about $114,555,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Frontier Communications Parent by 472.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company’s stock worth $109,295,000 after acquiring an additional 2,599,714 shares in the last quarter. FIL Ltd acquired a new stake in shares of Frontier Communications Parent during the 4th quarter valued at about $49,228,000. Finally, Alliancebernstein L.P. increased its stake in shares of Frontier Communications Parent by 411.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,560,375 shares of the company’s stock valued at $54,145,000 after purchasing an additional 1,255,180 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on FYBR shares. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.07.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $36.53 on Friday. Frontier Communications Parent, Inc. has a one year low of $24.43 and a one year high of $39.21. The stock has a market cap of $9.14 billion, a PE ratio of -28.32 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day moving average price of $36.00 and a 200 day moving average price of $35.51.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently 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.