Mutual of America Capital Management LLC Sells 7,100 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mutual of America Capital Management LLC cut its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,662 shares of the company’s stock after selling 7,100 shares during the period. Mutual of America Capital Management LLC’s holdings in Frontier Communications Parent were worth $3,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in Frontier Communications Parent by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 324,053 shares of the company’s stock valued at $8,966,000 after acquiring an additional 3,995 shares during the period. American Century Companies Inc. bought a new stake in Frontier Communications Parent in the first quarter valued at $749,000. Bank of Montreal Can bought a new stake in Frontier Communications Parent in the first quarter valued at $5,088,000. Dimensional Fund Advisors LP bought a new stake in Frontier Communications Parent in the first quarter valued at $3,517,000. Finally, Sei Investments Co. grew its position in Frontier Communications Parent by 104.9% in the first quarter. Sei Investments Co. now owns 151,036 shares of the company’s stock valued at $4,179,000 after acquiring an additional 77,309 shares during the period.

Frontier Communications Parent Trading Down 3.9 %

Shares of FYBR opened at $22.75 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. Frontier Communications Parent, Inc. has a 12-month low of $11.65 and a 12-month high of $25.89. The firm has a market capitalization of $5.65 billion, a PE ratio of 189.58 and a beta of 1.05. The stock’s fifty day simple moving average is $23.46 and its 200-day simple moving average is $22.11.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FYBR shares. Citigroup raised Frontier Communications Parent from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $28.00 to $30.00 in a research note on Monday. Bank of America started coverage on Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, Frontier Communications Parent presently has an average rating of “Moderate Buy” and a consensus price target of $27.43.

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.