Strs Ohio bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 52,277 shares of the company’s stock, valued at approximately $1,224,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in Frontier Communications Parent in the 1st quarter worth approximately $35,000. Captrust Financial Advisors raised its holdings in shares of Frontier Communications Parent by 2,698.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after purchasing an additional 1,808 shares in the last quarter. CX Institutional bought a new position in shares of Frontier Communications Parent during the 2nd quarter valued at $52,000. American International Group Inc. bought a new position in shares of Frontier Communications Parent during the 2nd quarter valued at $60,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Frontier Communications Parent during the 2nd quarter valued at $71,000.
Frontier Communications Parent Price Performance
Shares of Frontier Communications Parent stock opened at $28.16 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.56 and a current ratio of 1.56. The firm’s 50-day simple moving average is $24.92 and its 200-day simple moving average is $24.84. Frontier Communications Parent, Inc. has a twelve month low of $20.83 and a twelve month high of $31.60. The firm has a market cap of $6.90 billion, a P/E ratio of 14.59 and a beta of 0.78.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Frontier Communications Parent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Moffett Nathanson dropped their target price on shares of Frontier Communications Parent to $29.00 in a report on Thursday, September 29th. Citigroup dropped their target price on shares of Frontier Communications Parent from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Finally, Morgan Stanley lifted their target price on shares of Frontier Communications Parent from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, December 15th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.00.
About Frontier Communications Parent
Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.
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