SG Americas Securities LLC Purchases 8,494 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

SG Americas Securities LLC grew its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 57.6% during the third quarter, HoldingsChannel reports. The firm owned 23,239 shares of the company’s stock after buying an additional 8,494 shares during the quarter. SG Americas Securities LLC’s holdings in Frontier Communications Parent were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Frontier Communications Parent in the second quarter valued at approximately $37,000. Neo Ivy Capital Management bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at approximately $49,000. Game Plan Financial Advisors LLC raised its position in shares of Frontier Communications Parent by 320.0% in the first 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. raised its position in shares of Frontier Communications Parent by 224,400.0% in the second 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 stake in shares of Frontier Communications Parent by 100.9% in the first quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 1,267 shares during the last quarter.

Frontier Communications Parent Price Performance

FYBR opened at $35.25 on Friday. Frontier Communications Parent, Inc. has a fifty-two week low of $16.15 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average price is $32.39 and its two-hundred day moving average price is $27.90. The company has a market capitalization of $8.78 billion, a P/E ratio of -95.27 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FYBR. Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Finally, UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of “Hold” and an average price target of $35.31.

About Frontier Communications Parent

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.