Mirae Asset Global Investments Co. Ltd. Acquires New Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,916 shares of the company’s stock, valued at approximately $1,214,000.

Other large investors have also recently made changes to their positions in the company. Treasurer of the State of North Carolina lifted its holdings in shares of Frontier Communications Parent by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company’s stock worth $1,683,000 after buying an additional 550 shares in the last quarter. Arizona State Retirement System boosted its holdings in Frontier Communications Parent by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 52,395 shares of the company’s stock valued at $820,000 after purchasing an additional 736 shares during the period. United Services Automobile Association grew its position in shares of Frontier Communications Parent by 12.0% during the 3rd quarter. United Services Automobile Association now owns 15,362 shares of the company’s stock valued at $240,000 after purchasing an additional 1,643 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Frontier Communications Parent by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 39,399 shares of the company’s stock valued at $617,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Frontier Communications Parent by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company’s stock worth $548,000 after purchasing an additional 3,592 shares during the period.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR opened at $21.80 on Tuesday. The stock’s 50-day moving average is $23.41 and its 200 day moving average is $22.33. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 181.67 and a beta of 1.05. Frontier Communications Parent, Inc. has a 1-year low of $11.65 and a 1-year high of $25.89. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup upgraded Frontier Communications Parent from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $30.00 in a research report on Monday, April 15th. Bank of America initiated coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, Frontier Communications Parent has an average rating of “Moderate Buy” and an average target price of $27.43.

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.