Susquehanna Fundamental Investments LLC cut its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 28.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,361 shares of the company’s stock after selling 6,939 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Frontier Communications Parent were worth $455,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of FYBR. Treasurer of the State of North Carolina grew its position in Frontier Communications Parent by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 108,579 shares of the company’s stock valued at $2,751,000 after purchasing an additional 1,060 shares during the last quarter. Capital International Investors grew its holdings in shares of Frontier Communications Parent by 0.3% during the fourth quarter. Capital International Investors now owns 17,322,427 shares of the company’s stock valued at $438,950,000 after buying an additional 44,579 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Frontier Communications Parent by 18.2% during the fourth quarter. Gabelli Funds LLC now owns 65,000 shares of the company’s stock valued at $1,647,000 after acquiring an additional 10,000 shares in the last quarter. Alpine Investment Management Ltd purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $5,068,000. Finally, 13D Management LLC purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $8,679,000.
Frontier Communications Parent Stock Down 0.1 %
FYBR stock opened at $35.42 on Friday. The business’s 50-day moving average price is $31.40 and its 200-day moving average price is $27.33. The stock has a market cap of $8.80 billion, a P/E ratio of 322.00 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent, Inc. has a twelve month low of $13.66 and a twelve month high of $39.21.
Wall Street Analyst Weigh In
Several brokerages have commented on FYBR. Citigroup increased their target price on Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. The Goldman Sachs Group boosted their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.38.
Get Our Latest Analysis on FYBR
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.
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