Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,852 shares of the company’s stock after selling 6,619 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Frontier Communications Parent were worth $2,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Frontier Communications Parent by 575.7% in the third quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $117,000 after purchasing an additional 2,798 shares during the period. Capital Performance Advisors LLP acquired a new position in Frontier Communications Parent in the 3rd quarter worth approximately $50,000. QRG Capital Management Inc. purchased a new position in Frontier Communications Parent during the 3rd quarter worth approximately $210,000. Farther Finance Advisors LLC lifted its stake in Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after acquiring an additional 811 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Frontier Communications Parent by 8.4% in the 3rd quarter. US Bancorp DE now owns 7,750 shares of the company’s stock valued at $275,000 after acquiring an additional 598 shares during the last quarter.

Frontier Communications Parent Trading Up 1.5 %

Shares of FYBR stock opened at $34.67 on Thursday. Frontier Communications Parent, Inc. has a 1-year low of $20.34 and a 1-year high of $39.21. The company has a market cap of $8.63 billion, a price-to-earnings ratio of -46.23 and a beta of 1.10. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $35.50 and a 200-day simple moving average of $29.84.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $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 -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FYBR has been the subject of several recent research reports. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Raymond James cut Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Citigroup lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.31.

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.