Frontier Communications Parent, Inc. (NASDAQ:FYBR) Stock Position Raised by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,300 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Frontier Communications Parent were worth $1,330,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp lifted its position in Frontier Communications Parent by 62.8% in the 4th quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock worth $14,797,000 after buying an additional 225,293 shares in the last quarter. Vanguard Group Inc. lifted its position in Frontier Communications Parent by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock worth $372,906,000 after buying an additional 118,939 shares in the last quarter. Tudor Investment Corp Et Al lifted its position in Frontier Communications Parent by 63.4% in the 3rd quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after buying an additional 140,943 shares in the last quarter. American Century Companies Inc. lifted its position in Frontier Communications Parent by 83.9% in the 3rd quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock worth $24,180,000 after buying an additional 704,857 shares in the last quarter. Finally, Norges Bank purchased a new stake in Frontier Communications Parent in the 4th quarter worth approximately $50,269,000.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $25.79 on Friday. Frontier Communications Parent, Inc. has a 1 year low of $11.65 and a 1 year high of $27.41. The firm’s fifty day simple moving average is $25.69 and its 200 day simple moving average is $24.36. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $6.41 billion, a PE ratio of 234.45 and a beta of 1.08.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FYBR. TD Cowen cut their target price on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Citigroup raised their price target on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. The Goldman Sachs Group began coverage on shares of Frontier Communications Parent in a report on Monday, July 1st. They set a “buy” rating and a $29.00 price target on the stock. Finally, Bank of America began coverage on shares of Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a “buy” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Frontier Communications Parent Company 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.