Swiss National Bank Acquires 8,500 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Swiss National Bank increased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Rating) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 473,200 shares of the company’s stock after buying an additional 8,500 shares during the quarter. Swiss National Bank’s holdings in Frontier Communications Parent were worth $12,057,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FYBR. Ellevest Inc. bought a new stake in Frontier Communications Parent in the 3rd quarter worth approximately $26,000. CWM LLC lifted its position in Frontier Communications Parent by 2,144.9% in the 3rd quarter. CWM LLC now owns 1,100 shares of the company’s stock worth $26,000 after buying an additional 1,051 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in Frontier Communications Parent by 658.7% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,138 shares of the company’s stock worth $27,000 after buying an additional 988 shares during the last quarter. US Bancorp DE bought a new stake in Frontier Communications Parent in the 3rd quarter worth approximately $35,000. Finally, Geneos Wealth Management Inc. bought a new stake in Frontier Communications Parent in the 1st quarter worth approximately $35,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FYBR. Morgan Stanley downgraded Frontier Communications Parent from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $23.00 to $19.00 in a research report on Monday, March 27th. Raymond James upgraded Frontier Communications Parent from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $36.00 to $37.00 in a research report on Monday, February 27th. Cowen boosted their price objective on Frontier Communications Parent from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, February 27th. Credit Suisse Group reiterated a “neutral” rating and issued a $25.00 price objective on shares of Frontier Communications Parent in a research report on Monday, February 27th. Finally, TheStreet downgraded Frontier Communications Parent from a “c” rating to a “d” rating in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.43.

Insider Buying and Selling

In other news, major shareholder Ares Management Llc purchased 250,000 shares of Frontier Communications Parent stock in a transaction that occurred on Wednesday, March 15th. The shares were bought at an average cost of $23.85 per share, with a total value of $5,962,500.00. Following the completion of the purchase, the insider now directly owns 35,623,924 shares in the company, valued at $849,630,587.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 2,158,214 shares of company stock valued at $47,244,828 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Frontier Communications Parent Price Performance

FYBR opened at $18.61 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.13 and a current ratio of 1.10. Frontier Communications Parent, Inc. has a 52-week low of $17.93 and a 52-week high of $30.83. The stock has a market capitalization of $4.57 billion, a PE ratio of 12.08 and a beta of 0.79. The stock’s 50 day moving average price is $22.21 and its 200-day moving average price is $24.85.

Frontier Communications Parent (NASDAQ:FYBR – Get Rating) last posted its earnings results on Friday, May 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Frontier Communications Parent had a net margin of 6.56% and a return on equity of 7.57%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm posted $0.26 earnings per share. Frontier Communications Parent’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts predict that Frontier Communications Parent, Inc. will post 0.37 EPS for the current year.

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.