Skandinaviska Enskilda Banken AB publ Acquires Shares of 57,700 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 57,700 shares of the company’s stock, valued at approximately $2,002,000.

A number of other hedge funds have also bought and sold shares of FYBR. GSA Capital Partners LLP bought a new position in Frontier Communications Parent during the third quarter valued at $586,000. Victory Capital Management Inc. grew its holdings in shares of Frontier Communications Parent by 4.2% in the third quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock worth $2,364,000 after purchasing an additional 2,669 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Frontier Communications Parent in the third quarter worth about $499,000. CIBC Asset Management Inc bought a new position in shares of Frontier Communications Parent in the third quarter worth about $255,000. Finally, Natixis Advisors LLC grew its holdings in shares of Frontier Communications Parent by 10.4% in the third quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock worth $670,000 after purchasing an additional 1,778 shares during the last quarter.

Analyst Ratings Changes

FYBR has been the topic of a number of research analyst reports. Raymond James cut shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Performance

FYBR stock opened at $35.84 on Monday. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of -27.78 and a beta of 1.04. The firm has a 50-day simple moving average of $35.72 and a two-hundred day simple moving average of $35.20. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. On average, equities analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

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.