Covestor Ltd Grows Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Covestor Ltd lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 575.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,284 shares of the company’s stock after buying an additional 2,798 shares during the quarter. Covestor Ltd’s holdings in Frontier Communications Parent were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Frontier Communications Parent in the 2nd quarter worth about $37,000. Capital Performance Advisors LLP acquired a new position in Frontier Communications Parent in the third quarter worth about $50,000. Blue Trust Inc. increased its holdings in Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after buying an additional 2,244 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its holdings 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 worth $68,000 after buying an additional 500 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have commented on FYBR. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. The Goldman Sachs Group raised their target price 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. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Finally, Citigroup downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $34.15 on Wednesday. The firm’s 50-day simple moving average is $35.58 and its 200 day simple moving average is $29.81. The stock has a market cap of $8.50 billion, a P/E ratio of -45.53 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a fifty-two week low of $18.92 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $0.05 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Equities analysts expect that Frontier Communications Parent, Inc. will post -0.92 EPS for the current year.

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.