Charles Schwab Investment Management Inc. raised its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,914,437 shares of the company’s stock after purchasing an additional 252,408 shares during the period. Charles Schwab Investment Management Inc. owned 1.19% of Frontier Communications Parent worth $73,852,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. M&T Bank Corp lifted its stake in shares of Frontier Communications Parent by 41.2% in the fourth quarter. M&T Bank Corp now owns 16,002 shares of the company’s stock valued at $406,000 after buying an additional 4,670 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Frontier Communications Parent by 4.9% in the 4th quarter. Amalgamated Bank now owns 151,563 shares of the company’s stock worth $3,841,000 after acquiring an additional 7,013 shares during the last quarter. Victory Capital Management Inc. lifted its position in Frontier Communications Parent by 61.6% in the 4th quarter. Victory Capital Management Inc. now owns 63,657 shares of the company’s stock valued at $1,613,000 after acquiring an additional 24,258 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Frontier Communications Parent by 120.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock valued at $25,000 after purchasing an additional 532 shares during the last quarter. Finally, Magnolia Group LLC boosted its stake in Frontier Communications Parent by 0.8% during the 4th quarter. Magnolia Group LLC now owns 4,476,931 shares of the company’s stock valued at $113,445,000 after purchasing an additional 36,000 shares during the last quarter.
Frontier Communications Parent Stock Performance
Shares of NASDAQ:FYBR opened at $26.14 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 237.64 and a beta of 1.05. Frontier Communications Parent, Inc. has a 12 month low of $11.65 and a 12 month high of $27.41. The company has a 50-day moving average price of $23.96 and a 200-day moving average price of $23.17.
Analysts Set New Price Targets
FYBR has been the subject of a number of analyst reports. Bank of America initiated coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target for the company. Citigroup increased their target price on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, TD Cowen dropped their price target on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent presently has an average rating of “Moderate Buy” and an average price target of $29.13.
Check Out Our Latest Research Report on FYBR
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.
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