Frontier Communications Parent, Inc. (NASDAQ:FYBR) Position Trimmed by Amalgamated Bank

Amalgamated Bank lowered its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 26.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,775 shares of the company’s stock after selling 37,449 shares during the period. Amalgamated Bank’s holdings in Frontier Communications Parent were worth $3,794,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Redwood Investment Management LLC acquired a new position in shares of Frontier Communications Parent in the 1st quarter worth $641,000. Quantbot Technologies LP acquired a new position in shares of Frontier Communications Parent in the 1st quarter valued at $582,000. Luxor Capital Group LP increased its stake in Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after purchasing an additional 43,542 shares in the last quarter. Vanguard Group Inc. raised its holdings in Frontier Communications Parent by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after buying an additional 108,344 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after buying an additional 1,587,145 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. 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. The Goldman Sachs Group increased their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Down 0.9 %

Shares of Frontier Communications Parent stock opened at $34.50 on Friday. The stock has a 50-day simple moving average of $35.23 and a 200-day simple moving average of $29.46. Frontier Communications Parent, Inc. has a 52-week low of $18.43 and a 52-week high of $39.21. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of -46.44 and a beta of 1.10. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

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.