Swiss National Bank Acquires 27,100 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Swiss National Bank increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBRGet Rating) by 6.3% in the second quarter, Holdings Channel.com reports. The firm owned 460,500 shares of the company’s stock after purchasing an additional 27,100 shares during the quarter. Swiss National Bank’s holdings in Frontier Communications Parent were worth $10,840,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in Frontier Communications Parent during the 1st quarter worth approximately $35,000. Prospera Financial Services Inc bought a new stake in Frontier Communications Parent during the 1st quarter worth approximately $43,000. CX Institutional bought a new stake in Frontier Communications Parent during the 2nd quarter worth approximately $52,000. Van ECK Associates Corp increased its stake in Frontier Communications Parent by 15.9% during the 1st quarter. Van ECK Associates Corp now owns 5,416 shares of the company’s stock worth $150,000 after purchasing an additional 743 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Frontier Communications Parent during the 1st quarter worth approximately $230,000. 95.42% of the stock is owned by institutional investors.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $24.97 on Monday. Frontier Communications Parent, Inc. has a 1-year low of $20.83 and a 1-year high of $35.15. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.85. The firm has a fifty day simple moving average of $23.37 and a 200 day simple moving average of $24.53. The stock has a market capitalization of $6.12 billion, a PE ratio of 12.94 and a beta of 0.75.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of Frontier Communications Parent from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Credit Suisse Group assumed coverage on shares of Frontier Communications Parent in a research note on Friday, September 9th. They set a “neutral” rating and a $25.00 price target for the company. TheStreet raised shares of Frontier Communications Parent from a “d+” rating to a “c-” rating in a research note on Wednesday, September 7th. Morgan Stanley decreased their price target on shares of Frontier Communications Parent from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, October 24th. Finally, The Goldman Sachs Group decreased their price target on shares of Frontier Communications Parent from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.89.

About Frontier Communications Parent

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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.

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

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