Credit Suisse AG increased its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,363 shares of the company’s stock after acquiring an additional 8,625 shares during the period. Credit Suisse AG owned approximately 0.07% of Frontier Communications Parent worth $4,107,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in Frontier Communications Parent in the 1st quarter worth about $27,000. Geneos Wealth Management Inc. purchased a new position in Frontier Communications Parent in the 1st quarter worth about $35,000. Captrust Financial Advisors increased its stake in Frontier Communications Parent by 2,698.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock worth $44,000 after purchasing an additional 1,808 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Frontier Communications Parent in the 1st quarter worth about $50,000. Finally, Dark Forest Capital Management LP purchased a new position in Frontier Communications Parent in the 4th quarter worth about $58,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on FYBR shares. TheStreet lowered Frontier Communications Parent from a “c” rating to a “d” rating in a research report on Friday, May 5th. Citigroup lowered Frontier Communications Parent from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $17.00 in a research report on Monday, July 17th. 500.com restated an “initiates” rating on shares of Frontier Communications Parent in a research report on Tuesday, June 27th. Benchmark restated a “buy” rating and set a $35.00 price objective on shares of Frontier Communications Parent in a research report on Tuesday. Finally, Wolfe Research assumed coverage on Frontier Communications Parent in a report on Tuesday, June 27th. They set an “outperform” rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.11.
Frontier Communications Parent Stock Down 2.2 %
Shares of FYBR stock opened at $15.84 on Thursday. The stock’s 50 day simple moving average is $16.78 and its 200 day simple moving average is $19.79. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.85 and a current ratio of 0.85. Frontier Communications Parent, Inc. has a twelve month low of $11.65 and a twelve month high of $30.83. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 14.14 and a beta of 0.95.
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued its quarterly earnings data on Friday, August 4th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Frontier Communications Parent had a net margin of 4.78% and a return on equity of 5.41%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, research analysts predict that Frontier Communications Parent, Inc. will post 0.16 EPS for the current year.
Insiders Place Their Bets
In other news, major shareholder Ares Management Llc acquired 179,168 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $15.17 per share, for a total transaction of $2,717,978.56. Following the completion of the transaction, the insider now owns 38,284,666 shares in the company, valued at approximately $580,778,383.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 224,122 shares of company stock valued at $3,401,985 in the last three months. Company insiders own 0.41% of the company’s stock.
About Frontier Communications Parent
Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services 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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