APG Asset Management N.V. Lowers Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

APG Asset Management N.V. reduced its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,321,165 shares of the company’s stock after selling 39,160 shares during the period. APG Asset Management N.V.’s holdings in Frontier Communications Parent were worth $56,700,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Frontier Communications Parent during the 2nd quarter worth approximately $37,000. Neo Ivy Capital Management purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $49,000. Game Plan Financial Advisors LLC grew its holdings in shares of 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 worth $51,000 after acquiring an additional 1,600 shares during the period. Blue Trust Inc. increased its stake 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in Frontier Communications Parent by 100.9% in the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock valued at $62,000 after purchasing an additional 1,267 shares in the last quarter.

Analysts Set New Price Targets

FYBR has been the topic of several research reports. Benchmark reissued a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a report on Thursday, September 5th. Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, The Goldman Sachs Group upped their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Frontier Communications Parent Stock Up 0.6 %

Shares of NASDAQ FYBR opened at $35.72 on Friday. The firm has a market cap of $8.89 billion, a P/E ratio of 324.73 and a beta of 1.08. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. Frontier Communications Parent, Inc. has a 1 year low of $13.66 and a 1 year high of $39.21. The firm’s 50 day moving average price is $30.72 and its 200 day moving average price is $26.99.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company earned ($0.01) EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

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.