Pictet Asset Management SA Trims Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Pictet Asset Management SA lessened its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBRGet Rating) by 47.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,617 shares of the company’s stock after selling 123,002 shares during the quarter. Pictet Asset Management SA’s holdings in Frontier Communications Parent were worth $3,169,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FYBR. Geneos Wealth Management Inc. purchased a new stake in shares of Frontier Communications Parent during the first quarter worth approximately $35,000. Prospera Financial Services Inc purchased a new stake in shares of Frontier Communications Parent during the first quarter worth approximately $43,000. CX Institutional purchased a new stake in shares of Frontier Communications Parent during the second quarter worth approximately $52,000. Van ECK Associates Corp raised its stake in shares of Frontier Communications Parent by 15.9% during the first quarter. Van ECK Associates Corp now owns 5,416 shares of the company’s stock worth $150,000 after purchasing an additional 743 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Frontier Communications Parent during the first quarter worth approximately $230,000. Hedge funds and other institutional investors own 95.42% of the company’s stock.

Frontier Communications Parent Stock Up 1.5 %

Frontier Communications Parent stock opened at $24.97 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 12.94 and a beta of 0.75. Frontier Communications Parent, Inc. has a fifty-two week low of $20.83 and a fifty-two week high of $35.15. The stock’s fifty day moving average is $23.37 and its two-hundred day moving average is $24.53.

Analyst Ratings Changes

FYBR has been the subject of several analyst reports. TheStreet upgraded Frontier Communications Parent from a “d+” rating to a “c-” rating in a research note on Wednesday, September 7th. Moffett Nathanson cut their price objective on Frontier Communications Parent to $29.00 in a research report on Thursday, September 29th. Morgan Stanley cut their price objective on Frontier Communications Parent from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, October 24th. Citigroup cut their price objective on Frontier Communications Parent from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Finally, Credit Suisse Group initiated coverage on Frontier Communications Parent in a research report on Friday, September 9th. They issued a “neutral” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

Frontier Communications Parent Profile

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Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.

Further Reading

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Institutional Ownership by Quarter for Frontier Communications Parent (NASDAQ:FYBR)

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