Marshall Wace LLP Has $11 Million Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Marshall Wace LLP boosted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) 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.

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). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, analysts expect that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

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.

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.