Louisiana State Employees Retirement System Lowers Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Louisiana State Employees Retirement System lowered its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,300 shares of the company’s stock after selling 2,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Frontier Communications Parent were worth $2,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TriaGen Wealth Management LLC purchased a new position in Frontier Communications Parent in the 3rd quarter worth $375,000. Friedenthal Financial purchased a new position in Frontier Communications Parent in the 3rd quarter worth $756,000. Blue Trust Inc. raised its position in Frontier Communications Parent by 91.6% in the 3rd quarter. Blue Trust Inc. now owns 4,302 shares of the company’s stock worth $153,000 after purchasing an additional 2,057 shares during the period. Creative Planning raised its position in Frontier Communications Parent by 21.5% in the 3rd quarter. Creative Planning now owns 14,383 shares of the company’s stock worth $511,000 after purchasing an additional 2,541 shares during the period. Finally, Affinity Wealth Management LLC purchased a new position in Frontier Communications Parent in the 3rd quarter worth $4,060,000.

Frontier Communications Parent Trading Up 0.2 %

NASDAQ:FYBR opened at $35.89 on Wednesday. Frontier Communications Parent, Inc. has a one year low of $16.30 and a one year high of $39.21. 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 company’s 50-day simple moving average is $34.28 and its 200 day simple moving average is $28.94. The firm has a market capitalization of $8.94 billion, a P/E ratio of -97.00 and a beta of 1.10.

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 the consensus estimate 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 business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The company’s revenue 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 fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FYBR. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. Wells Fargo & Company reissued 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 lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. The Goldman Sachs Group raised their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.31.

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.