Alpine Associates Management Inc. Increases Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Alpine Associates Management Inc. lifted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 275.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,042,630 shares of the company’s stock after buying an additional 765,250 shares during the quarter. Frontier Communications Parent comprises 2.2% of Alpine Associates Management Inc.’s holdings, making the stock its 11th biggest position. Alpine Associates Management Inc.’s holdings in Frontier Communications Parent were worth $36,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FYBR. UMB Bank n.a. lifted its stake in shares of Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 425 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $50,000. Meeder Asset Management Inc. purchased a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $52,000. Farther Finance Advisors LLC lifted its stake in shares of Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares during the period. Finally, Quarry LP purchased a new position in shares of Frontier Communications Parent during the third quarter valued at approximately $91,000.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 76,523 shares in the company, valued at $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

Frontier Communications Parent Price Performance

FYBR opened at $36.05 on Friday. The company has a fifty day simple moving average of $35.62 and a 200 day simple moving average of $34.91. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of -27.95 and a beta of 1.04. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note 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 report on Friday, February 21st. Finally, Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.31.

About Frontier Communications Parent

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.