Nisa Investment Advisors LLC Increases Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Nisa Investment Advisors LLC raised its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 6,455.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,145 shares of the company’s stock after acquiring an additional 10,975 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Frontier Communications Parent were worth $282,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JANA Partners Management LP acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at $129,569,000. State Street Corp raised its position in Frontier Communications Parent by 97.5% in the 3rd quarter. State Street Corp now owns 6,134,736 shares of the company’s stock valued at $143,737,000 after purchasing an additional 3,028,313 shares in the last quarter. Norges Bank purchased a new position in shares of Frontier Communications Parent in the 4th quarter valued at about $54,468,000. Capital International Investors boosted its stake in shares of Frontier Communications Parent by 19.8% in the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock valued at $303,091,000 after buying an additional 1,809,275 shares during the period. Finally, Glendon Capital Management LP grew its position in shares of Frontier Communications Parent by 6.2% during the third quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock worth $378,979,000 after buying an additional 1,417,609 shares in the last quarter.

Frontier Communications Parent Price Performance

FYBR stock opened at $22.57 on Friday. The business has a 50 day moving average price of $23.46 and a 200 day moving average price of $22.12. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 188.08 and a beta of 1.05. Frontier Communications Parent, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $25.89.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FYBR. Bank of America assumed coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 target price on the stock. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $30.00 in a report on Monday. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Frontier Communications Parent 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.