Daiwa Securities Group Inc. Sells 3,000 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Daiwa Securities Group Inc. decreased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 32.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,300 shares of the company’s stock after selling 3,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Frontier Communications Parent were worth $160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CI Investments Inc. boosted its position in shares of Frontier Communications Parent by 48.3% during the third quarter. CI Investments Inc. now owns 385,383 shares of the company’s stock worth $6,031,000 after acquiring an additional 125,525 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Frontier Communications Parent by 62.8% during the fourth quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock worth $14,797,000 after acquiring an additional 225,293 shares during the last quarter. Vanguard Group Inc. lifted its position in Frontier Communications Parent by 0.5% during the third quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock valued at $372,906,000 after purchasing an additional 118,939 shares during the last quarter. Tudor Investment Corp Et Al lifted its position in Frontier Communications Parent by 63.4% during the third quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock valued at $5,684,000 after purchasing an additional 140,943 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Frontier Communications Parent by 83.9% during the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock valued at $24,180,000 after purchasing an additional 704,857 shares during the last quarter.

Analyst Ratings Changes

FYBR has been the subject of several research reports. Bank of America initiated coverage on shares of 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. Citigroup upgraded 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 investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.43.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $22.93 on Friday. The firm has a 50-day moving average price of $23.45 and a 200-day moving average price of $22.48. The firm has a market capitalization of $5.70 billion, a PE ratio of 191.08 and a beta of 1.05. 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, Inc. has a 12-month low of $11.65 and a 12-month high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.2 EPS for the current year.

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.