JPMorgan Chase & Co. Sells 220,774 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

JPMorgan Chase & Co. trimmed its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBRGet Rating) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,795,218 shares of the company’s stock after selling 220,774 shares during the period. JPMorgan Chase & Co.’s holdings in Frontier Communications Parent were worth $65,799,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of Frontier Communications Parent by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 155,920 shares of the company’s stock worth $4,314,000 after purchasing an additional 682 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Frontier Communications Parent by 15.9% in 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. Scotia Capital Inc. lifted its holdings in shares of Frontier Communications Parent by 1.5% in the 2nd quarter. Scotia Capital Inc. now owns 52,519 shares of the company’s stock worth $1,236,000 after purchasing an additional 767 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Frontier Communications Parent in the 1st quarter worth $35,000. Finally, Prospera Financial Services Inc bought a new position in shares of Frontier Communications Parent in the 1st quarter worth $43,000. 95.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FYBR shares. The Goldman Sachs Group cut their target price on Frontier Communications Parent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Citigroup cut their target price on Frontier Communications Parent from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Moffett Nathanson dropped their price objective on Frontier Communications Parent to $29.00 in a research note on Thursday, September 29th. TheStreet upgraded Frontier Communications Parent from a “d+” rating to a “c-” rating in a research note on Wednesday, September 7th. Finally, Credit Suisse Group initiated coverage on Frontier Communications Parent in a research note on Friday, September 9th. They set a “neutral” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $24.99 on Friday. 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 stock’s fifty day simple moving average is $23.33 and its two-hundred day simple moving average is $24.52. Frontier Communications Parent, Inc. has a 1-year low of $20.83 and a 1-year high of $35.15. The stock has a market cap of $6.12 billion, a PE ratio of 12.95 and a beta of 0.75.

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.

Further Reading

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

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