American International Group Inc. Cuts Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

American International Group Inc. reduced its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,962 shares of the company’s stock after selling 12,861 shares during the quarter. American International Group Inc. owned about 0.12% of Frontier Communications Parent worth $7,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in Frontier Communications Parent in the fourth quarter worth $49,000. Oracle Alpha Inc. purchased a new position in Frontier Communications Parent in the fourth quarter worth $380,000. Clearfield Capital Management LP purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $2,306,000. Foursixthree Capital LP purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $9,801,000. Finally, 13D Management LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $8,679,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FYBR. TD Cowen dropped their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Citigroup boosted their price objective on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Bank of America began coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Frontier Communications Parent presently has an average rating of “Moderate Buy” and a consensus price target of $29.13.

Frontier Communications Parent Trading Up 1.7 %

NASDAQ FYBR opened at $25.13 on Thursday. The company has a market capitalization of $6.25 billion, a PE ratio of 228.45 and a beta of 1.10. The company has a fifty day moving average of $25.01 and a 200 day moving average of $24.16. Frontier Communications Parent, Inc. has a 1 year low of $11.65 and a 1 year high of $27.41. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07.

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.