Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. lessened its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,321,165 shares of the company’s stock after selling 39,160 shares during the period. APG Asset Management N.V. owned 0.93% of Frontier Communications Parent worth $56,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Frontier Communications Parent by 0.5% in the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock valued at $589,777,000 after purchasing an additional 108,344 shares during the last quarter. Capital International Investors grew its holdings in shares of Frontier Communications Parent by 0.5% in the first quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock valued at $426,677,000 after purchasing an additional 92,944 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Frontier Communications Parent by 12.0% in the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after purchasing an additional 1,462,646 shares during the period. Dimensional Fund Advisors LP increased its position in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Frontier Communications Parent by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock valued at $52,515,000 after purchasing an additional 79,265 shares during the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $35.72 on Friday. The stock’s 50-day simple moving average is $30.72 and its 200-day simple moving average is $26.99. The firm has a market capitalization of $8.89 billion, a PE ratio of 324.73 and a beta of 1.08. Frontier Communications Parent, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted ($0.01) EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

FYBR has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Frontier Communications Parent currently has an average rating of “Moderate Buy” and a consensus target price of $35.38.

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.