Louisiana State Employees Retirement System Makes New $1.57 Million Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Louisiana State Employees Retirement System bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 62,100 shares of the company’s stock, valued at approximately $1,574,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Friedenthal Financial acquired a new stake in Frontier Communications Parent during the 4th quarter worth approximately $785,000. International Assets Investment Management LLC acquired a new stake in Frontier Communications Parent during the 4th quarter worth approximately $1,541,000. Nisa Investment Advisors LLC lifted its holdings in Frontier Communications Parent by 6,455.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,145 shares of the company’s stock worth $282,000 after buying an additional 10,975 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Frontier Communications Parent during the 4th quarter worth approximately $1,214,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Frontier Communications Parent by 21.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 85,000 shares of the company’s stock worth $2,169,000 after buying an additional 15,000 shares in the last quarter.

Frontier Communications Parent Trading Down 3.9 %

NASDAQ FYBR opened at $21.70 on Friday. 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 firm’s fifty day moving average price is $23.44 and its 200 day moving average price is $22.17. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 180.83 and a beta of 1.05. 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 earnings results on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. On average, sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FYBR has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price objective on the stock. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $30.00 in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.