DekaBank Deutsche Girozentrale Has $2.43 Million Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

DekaBank Deutsche Girozentrale lowered its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 11.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,500 shares of the company’s stock after selling 12,500 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Frontier Communications Parent were worth $2,425,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Frontier Communications Parent in the 2nd quarter valued at approximately $37,000. Neo Ivy Capital Management bought a new stake in Frontier Communications Parent in the fourth quarter worth approximately $49,000. Game Plan Financial Advisors LLC increased its stake in shares of Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Frontier Communications Parent during the 4th quarter valued at $52,000. Finally, Blue Trust Inc. lifted its stake in shares of Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Citigroup upped their target price on Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Frontier Communications Parent has an average rating of “Moderate Buy” and an average price target of $35.38.

Frontier Communications Parent Stock Down 0.8 %

FYBR opened at $35.35 on Thursday. The business has a 50 day moving average of $29.76 and a 200-day moving average of $26.53. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 321.36 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent, Inc. has a 1-year low of $13.66 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. Frontier Communications Parent’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. As a group, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

Frontier Communications Parent Company 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.