ING Groep NV Acquires Shares of 58,800 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

ING Groep NV bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,800 shares of the company’s stock, valued at approximately $2,040,000.

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

Analyst Ratings Changes

A number of equities analysts have commented on FYBR shares. Benchmark downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

FYBR stock opened at $35.78 on Monday. The stock has a market cap of $8.91 billion, a PE ratio of -27.74 and a beta of 1.05. The firm’s 50-day simple moving average is $35.38 and its 200 day simple moving average is $34.41. Frontier Communications Parent, Inc. has a fifty-two week low of $20.51 and a fifty-two week high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

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