Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 9.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 154,697 shares of the company’s stock after selling 17,011 shares during the period. New York State Teachers Retirement System’s holdings in Frontier Communications Parent were worth $3,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in Frontier Communications Parent during the 1st quarter worth about $35,000. Captrust Financial Advisors increased its position in Frontier Communications Parent by 2,698.5% during 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. Quarry LP purchased a new stake in Frontier Communications Parent during the 1st quarter worth about $44,000. American International Group Inc. purchased a new stake in Frontier Communications Parent during the 2nd quarter worth about $60,000. Finally, Sunbelt Securities Inc. purchased a new stake in Frontier Communications Parent during the 2nd quarter worth about $54,000.

Frontier Communications Parent Stock Down 2.2 %

FYBR opened at $23.87 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 198.92 and a beta of 1.05. The business has a 50-day moving average of $23.50 and a two-hundred day moving average of $21.99. Frontier Communications Parent, Inc. has a 12 month low of $11.65 and a 12 month high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, research analysts expect that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Bank of America started coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.57.

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.