SG Americas Securities LLC Sells 25,525 Shares of Frontier Communications Parent, Inc. $FYBR

SG Americas Securities LLC lowered its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 11.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,048 shares of the company’s stock after selling 25,525 shares during the quarter. SG Americas Securities LLC’s holdings in Frontier Communications Parent were worth $7,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS increased its holdings in Frontier Communications Parent by 10.6% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 52,200 shares of the company’s stock worth $1,950,000 after acquiring an additional 5,000 shares in the last quarter. Securian Asset Management Inc. boosted its position in shares of Frontier Communications Parent by 10.5% in the third quarter. Securian Asset Management Inc. now owns 18,746 shares of the company’s stock worth $700,000 after purchasing an additional 1,785 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Frontier Communications Parent by 11.2% in the third quarter. Louisiana State Employees Retirement System now owns 69,700 shares of the company’s stock worth $2,603,000 after purchasing an additional 7,000 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Frontier Communications Parent by 2,919.3% during the 3rd quarter. Global Retirement Partners LLC now owns 3,442 shares of the company’s stock valued at $129,000 after purchasing an additional 3,328 shares during the period. Finally, Ethic Inc. raised its position in shares of Frontier Communications Parent by 7.1% during the 3rd quarter. Ethic Inc. now owns 23,381 shares of the company’s stock valued at $873,000 after purchasing an additional 1,555 shares during the period.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $38.16 on Friday. Frontier Communications Parent, Inc. has a 1 year low of $35.05 and a 1 year high of $38.31. The firm’s 50 day moving average price is $37.99 and its 200-day moving average price is $37.38. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $9.55 billion, a P/E ratio of -25.11 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Frontier Communications Parent had a negative net margin of 6.24% and a negative return on equity of 7.91%. Frontier Communications Parent’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted ($0.33) earnings per share. On average, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Frontier Communications Parent Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.