Alberta Investment Management Corp Purchases Shares of 716,500 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Alberta Investment Management Corp acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 716,500 shares of the company’s stock, valued at approximately $24,863,000.

Several other large investors also recently modified their holdings of FYBR. Creative Planning grew its position in Frontier Communications Parent by 21.5% during the 3rd quarter. Creative Planning now owns 14,383 shares of the company’s stock worth $511,000 after acquiring an additional 2,541 shares during the last quarter. Blue Trust Inc. grew its position in Frontier Communications Parent by 91.6% during the 3rd quarter. Blue Trust Inc. now owns 4,302 shares of the company’s stock worth $153,000 after acquiring an additional 2,057 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $222,000. State of Alaska Department of Revenue grew its position in Frontier Communications Parent by 5.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,693 shares of the company’s stock worth $912,000 after acquiring an additional 1,370 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Frontier Communications Parent by 8.4% in the 3rd quarter. US Bancorp DE now owns 7,750 shares of the company’s stock valued at $275,000 after purchasing an additional 598 shares during the period.

Analyst Ratings Changes

A number of research firms have recently weighed in on FYBR. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Frontier Communications Parent presently has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Performance

FYBR opened at $35.75 on Wednesday. The business’s 50-day moving average price is $35.31 and its two-hundred day moving average price is $34.23. Frontier Communications Parent, Inc. has a 1 year low of $20.51 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

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.