Mutual of America Capital Management LLC Cuts Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mutual of America Capital Management LLC reduced its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,662 shares of the company’s stock after selling 7,100 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Frontier Communications Parent worth $3,463,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Glendon Capital Management LP lifted its holdings in shares of Frontier Communications Parent by 6.2% during the 3rd quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock worth $378,979,000 after acquiring an additional 1,417,609 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Frontier Communications Parent by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock worth $372,906,000 after acquiring an additional 118,939 shares during the period. Capital International Investors lifted its holdings in shares of Frontier Communications Parent by 19.8% during the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock worth $303,091,000 after acquiring an additional 1,809,275 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Frontier Communications Parent by 14.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 9,814,910 shares of the company’s stock worth $153,603,000 after acquiring an additional 1,250,000 shares during the period. Finally, JANA Partners Management LP purchased a new position in shares of Frontier Communications Parent during the 3rd quarter worth about $129,569,000.

Frontier Communications Parent Stock Down 3.9 %

Shares of NASDAQ:FYBR opened at $22.75 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. Frontier Communications Parent, Inc. has a 52-week low of $11.65 and a 52-week high of $25.89. The company has a 50 day moving average of $23.46 and a two-hundred day moving average of $22.11. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 189.58 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $0.63 earnings per share. Frontier Communications Parent’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts forecast that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FYBR has been the topic of several research reports. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and raised their price target for the company from $28.00 to $30.00 in a report on Monday. Bank of America initiated coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating and six 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 target price of $27.43.

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.