AQR Capital Management LLC Invests $269,000 in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

AQR Capital Management LLC bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,428 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors have also recently added to or reduced their stakes in FYBR. Vanguard Group Inc. raised its holdings in Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after purchasing an additional 108,344 shares in the last quarter. Capital International Investors grew its position in shares of Frontier Communications Parent by 0.5% in the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock valued at $426,677,000 after buying an additional 92,944 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after acquiring an additional 1,462,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after acquiring an additional 1,587,145 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Frontier Communications Parent by 4.1% in the second quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock valued at $52,515,000 after acquiring an additional 79,265 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FYBR shares. The Goldman Sachs Group lifted 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. Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a research note on Monday. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Finally, Benchmark reiterated a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Communications Parent currently has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $35.85 on Friday. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $33.07 and a 200-day simple moving average of $28.19. Frontier Communications Parent, Inc. has a 12 month low of $16.29 and a 12 month high of $39.21. The stock has a market capitalization of $8.91 billion, a PE ratio of 325.91 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last announced 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 return on equity of 1.80% and a negative net margin of 1.62%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted ($0.01) EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

About Frontier Communications Parent

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.