Frontier Communications Parent, Inc. (NASDAQ:FYBR) Position Boosted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 169.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,946 shares of the company’s stock after purchasing an additional 125,184 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.08% of Frontier Communications Parent worth $6,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Magnetar Financial LLC boosted its position in shares of Frontier Communications Parent by 37.7% during the 4th quarter. Magnetar Financial LLC now owns 1,813,443 shares of the company’s stock valued at $62,926,000 after purchasing an additional 496,750 shares in the last quarter. Xponance Inc. increased its position in shares of Frontier Communications Parent by 6.0% in the fourth quarter. Xponance Inc. now owns 26,379 shares of the company’s stock worth $915,000 after acquiring an additional 1,495 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Frontier Communications Parent in the fourth quarter worth approximately $532,000. Natixis Advisors LLC increased its position in shares of Frontier Communications Parent by 2.5% in the fourth quarter. Natixis Advisors LLC now owns 19,324 shares of the company’s stock worth $671,000 after acquiring an additional 473 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Frontier Communications Parent in the fourth quarter worth approximately $25,157,000.

Frontier Communications Parent Price Performance

NASDAQ FYBR opened at $35.79 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $8.94 billion, a PE ratio of -27.74 and a beta of 1.04. The company has a 50 day moving average price of $35.78 and a two-hundred day moving average price of $35.41. Frontier Communications Parent, Inc. has a 12-month low of $21.31 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. As a group, equities analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FYBR. Benchmark reissued a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.