Louisiana State Employees Retirement System decreased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,100 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Frontier Communications Parent were worth $1,346,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in FYBR. Ronald Blue Trust Inc. increased its stake in shares of Frontier Communications Parent by 658.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,138 shares of the company’s stock valued at $27,000 after acquiring an additional 988 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Frontier Communications Parent in the first quarter valued at approximately $27,000. Geneos Wealth Management Inc. acquired a new position in Frontier Communications Parent during the first quarter worth approximately $35,000. CWM LLC raised its stake in Frontier Communications Parent by 58.1% during the fourth quarter. CWM LLC now owns 1,739 shares of the company’s stock worth $44,000 after purchasing an additional 639 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Frontier Communications Parent by 2,698.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after purchasing an additional 1,808 shares during the last quarter.
Frontier Communications Parent Stock Down 1.1 %
NASDAQ FYBR opened at $18.04 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.91. Frontier Communications Parent, Inc. has a fifty-two week low of $14.49 and a fifty-two week high of $30.83. The business has a 50 day moving average price of $17.66 and a two-hundred day moving average price of $22.83. The stock has a market cap of $4.43 billion, a PE ratio of 11.71 and a beta of 0.97.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on FYBR shares. Wolfe Research started coverage on Frontier Communications Parent in a report on Tuesday, June 27th. They set an “outperform” rating and a $27.00 price objective for the company. Morgan Stanley downgraded Frontier Communications Parent from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $19.00 in a report on Monday, March 27th. Citigroup decreased their target price on Frontier Communications Parent from $34.00 to $30.00 in a report on Monday, May 8th. Finally, TheStreet lowered shares of Frontier Communications Parent from a “c” rating to a “d” rating in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.
Insider Buying and Selling at Frontier Communications Parent
In other Frontier Communications Parent news, major shareholder Ares Management Llc bought 200,000 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were acquired at an average cost of $20.85 per share, with a total value of $4,170,000.00. Following the completion of the transaction, the insider now owns 37,494,654 shares in the company, valued at $781,763,535.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 850,000 shares of company stock valued at $18,220,000 in the last ninety days. Insiders own 0.20% of the company’s stock.
Frontier Communications Parent Company Profile
Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services 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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