New York State Teachers Retirement System Lowers Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

New York State Teachers Retirement System reduced its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 148,988 shares of the company’s stock after selling 1,000 shares during the period. New York State Teachers Retirement System’s holdings in Frontier Communications Parent were worth $5,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Frontier Communications Parent during the second quarter valued at $37,000. Blue Trust Inc. increased its position in Frontier Communications Parent by 224,400.0% during 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. Game Plan Financial Advisors LLC increased its position in Frontier Communications Parent by 23.8% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after purchasing an additional 500 shares during the period. GAMMA Investing LLC raised its holdings in shares of Frontier Communications Parent by 18.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after purchasing an additional 444 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Frontier Communications Parent by 140.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock worth $103,000 after purchasing an additional 2,461 shares during the period.

Frontier Communications Parent Trading Down 1.3 %

NASDAQ:FYBR opened at $34.95 on Wednesday. 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 fifty day simple moving average of $34.85 and a 200-day simple moving average of $29.29. Frontier Communications Parent, Inc. has a 12 month low of $18.43 and a 12 month high of $39.21. The company has a market capitalization of $8.70 billion, a P/E ratio of -94.46 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FYBR. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Company restated an “equal weight” rating and set a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, Raymond James downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.31.

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.