Marshall Wace LLP boosted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 49.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 420,227 shares of the company’s stock after purchasing an additional 139,215 shares during the quarter. Marshall Wace LLP’s holdings in Frontier Communications Parent were worth $11,002,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC bought a new stake in shares of Frontier Communications Parent in the second quarter valued at approximately $37,000. Neo Ivy Capital Management acquired a new position in Frontier Communications Parent during the 4th quarter valued at $49,000. Game Plan Financial Advisors LLC boosted its holdings in Frontier Communications Parent by 320.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares during the period. Blue Trust Inc. boosted its holdings in Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares during the period. Finally, GAMMA Investing LLC grew its position in Frontier Communications Parent by 100.9% in the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 1,267 shares during the last quarter.
Frontier Communications Parent Price Performance
Shares of FYBR stock opened at $35.71 on Friday. The stock’s fifty day simple moving average is $30.90 and its 200 day simple moving average is $27.09. Frontier Communications Parent, Inc. has a one year low of $13.66 and a one year high of $39.21. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 324.64 and a beta of 1.08. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87.
Analysts Set New Price Targets
A number of brokerages have recently commented on FYBR. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Benchmark reissued a “buy” rating and set a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Finally, Citigroup lifted their price target on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.38.
Read Our Latest Stock Report on Frontier Communications Parent
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.
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