Balentine LLC bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,143 shares of the company’s stock, valued at approximately $207,000.
A number of other large investors also recently modified their holdings of the stock. New York State Teachers Retirement System lifted its position in shares of Frontier Communications Parent by 257.3% during the fourth quarter. New York State Teachers Retirement System now owns 131,098 shares of the company’s stock worth $3,340,000 after purchasing an additional 94,410 shares in the last quarter. Siguler Guff Advisers LLC lifted its holdings in Frontier Communications Parent by 21.0% in the fourth quarter. Siguler Guff Advisers LLC now owns 1,428,729 shares of the company’s stock valued at $36,404,000 after buying an additional 247,487 shares during the period. Natixis Advisors L.P. lifted its holdings in Frontier Communications Parent by 6.1% in the fourth quarter. Natixis Advisors L.P. now owns 54,878 shares of the company’s stock valued at $1,398,000 after buying an additional 3,131 shares during the period. State of Michigan Retirement System lifted its holdings in Frontier Communications Parent by 1.1% in the fourth quarter. State of Michigan Retirement System now owns 56,800 shares of the company’s stock valued at $1,447,000 after buying an additional 600 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Frontier Communications Parent by 0.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 65,687 shares of the company’s stock valued at $1,674,000 after buying an additional 587 shares during the period.
Analyst Ratings Changes
FYBR has been the topic of several analyst reports. Credit Suisse Group restated a “neutral” rating and issued a $25.00 price objective on shares of Frontier Communications Parent in a report on Monday, February 27th. Raymond James upgraded shares of Frontier Communications Parent from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $36.00 to $37.00 in a report on Monday, February 27th. Morgan Stanley lowered shares of Frontier Communications Parent from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $23.00 to $19.00 in a report on Monday, March 27th. Finally, Cowen increased their target price on shares of Frontier Communications Parent from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Frontier Communications Parent presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.57.
Insider Activity at Frontier Communications Parent
Frontier Communications Parent Stock Up 0.3 %
Shares of FYBR stock opened at $21.63 on Tuesday. The firm has a fifty day moving average of $24.99 and a 200-day moving average of $25.16. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.77. Frontier Communications Parent, Inc. has a 12-month low of $20.30 and a 12-month high of $30.83. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 12.08 and a beta of 0.80.
Frontier Communications Parent (NASDAQ:FYBR – Get Rating) last issued its quarterly earnings data on Friday, February 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.39. Frontier Communications Parent had a net margin of 7.62% and a return on equity of 9.03%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was down 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Frontier Communications Parent, Inc. will post 0.39 earnings per share for the current fiscal year.
Frontier Communications Parent Profile
Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.
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