Teacher Retirement System of Texas Purchases 3,725 Shares of Frontier Communications Parent, Inc. $FYBR

Teacher Retirement System of Texas increased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,580 shares of the company’s stock after purchasing an additional 3,725 shares during the period. Teacher Retirement System of Texas’ holdings in Frontier Communications Parent were worth $2,205,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Frontier Communications Parent by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company’s stock worth $873,364,000 after purchasing an additional 77,795 shares in the last quarter. Pentwater Capital Management LP bought a new position in shares of Frontier Communications Parent in the 1st quarter worth $161,370,000. Millennium Management LLC lifted its holdings in shares of Frontier Communications Parent by 56.2% in the 1st quarter. Millennium Management LLC now owns 4,487,109 shares of the company’s stock worth $160,908,000 after purchasing an additional 1,615,356 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Frontier Communications Parent by 39.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,378,238 shares of the company’s stock worth $157,004,000 after purchasing an additional 1,228,524 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Frontier Communications Parent by 129.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company’s stock worth $83,792,000 after purchasing an additional 1,316,597 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Frontier Communications Parent in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Frontier Communications Parent Stock Down 0.2%

Shares of NASDAQ:FYBR opened at $37.69 on Tuesday. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of -24.80 and a beta of 0.94. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.56. Frontier Communications Parent, Inc. has a 12-month low of $33.72 and a 12-month high of $37.87. The business’s 50 day moving average is $37.38 and its 200 day moving average is $36.84.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.Frontier Communications Parent’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. On average, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal 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.