GAMMA Investing LLC Raises Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

GAMMA Investing LLC increased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 18.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,799 shares of the company’s stock after buying an additional 444 shares during the quarter. GAMMA Investing LLC’s holdings in Frontier Communications Parent were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FYBR. Handelsbanken Fonder AB increased its holdings in Frontier Communications Parent by 32.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 56,900 shares of the company’s stock valued at $2,022,000 after purchasing an additional 13,800 shares in the last quarter. SG Americas Securities LLC increased its holdings in Frontier Communications Parent by 57.6% in the 3rd quarter. SG Americas Securities LLC now owns 23,239 shares of the company’s stock valued at $826,000 after purchasing an additional 8,494 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Frontier Communications Parent by 8.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 450,844 shares of the company’s stock valued at $11,803,000 after purchasing an additional 36,944 shares in the last quarter. Creative Planning increased its holdings in Frontier Communications Parent by 23.4% in the 2nd quarter. Creative Planning now owns 11,842 shares of the company’s stock valued at $310,000 after purchasing an additional 2,247 shares in the last quarter. Finally, Algert Global LLC increased its holdings in Frontier Communications Parent by 12.8% in the 2nd quarter. Algert Global LLC now owns 42,594 shares of the company’s stock valued at $1,115,000 after purchasing an additional 4,824 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $35.25 on Tuesday. Frontier Communications Parent, Inc. has a 52 week low of $16.29 and a 52 week high of $39.21. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 320.45 and a beta of 1.10. The stock has a 50 day moving average of $32.58 and a 200-day moving average of $28.00.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts forecast that Frontier Communications Parent, Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. The Goldman Sachs Group increased their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Citigroup raised 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. Finally, Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.31.

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.