Frontier Communications Parent, Inc. (NASDAQ:FYBR) Position Lowered by Taconic Capital Advisors LP

Taconic Capital Advisors LP cut its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 83.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 468,693 shares of the company’s stock after selling 2,387,494 shares during the period. Frontier Communications Parent accounts for 8.9% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 3rd largest holding. Taconic Capital Advisors LP owned approximately 0.19% of Frontier Communications Parent worth $16,653,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FYBR. Russell Investments Group Ltd. increased its position in shares of Frontier Communications Parent by 140.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock valued at $103,000 after purchasing an additional 2,461 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Frontier Communications Parent by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 118,907 shares of the company’s stock valued at $2,914,000 after purchasing an additional 7,602 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Frontier Communications Parent by 23.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 105,000 shares of the company’s stock valued at $2,587,000 after buying an additional 20,000 shares during the last quarter. NBC Securities Inc. grew its position in shares of Frontier Communications Parent by 20.9% in the 2nd quarter. NBC Securities Inc. now owns 105,912 shares of the company’s stock valued at $2,772,000 after buying an additional 18,331 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Frontier Communications Parent by 117.1% in the 2nd quarter. SG Americas Securities LLC now owns 14,745 shares of the company’s stock valued at $386,000 after buying an additional 7,952 shares during the last quarter.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $34.78 on Friday. Frontier Communications Parent, Inc. has a 1-year low of $20.42 and a 1-year 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. The firm has a fifty day moving average price of $35.32 and a 200 day moving average price of $30.53.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.05 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Frontier Communications Parent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their target price for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and an average price target of $35.31.

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.