Dimensional Fund Advisors LP Boosts Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Dimensional Fund Advisors LP raised its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 24.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,088,749 shares of the company’s stock after acquiring an additional 1,587,145 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.25% of Frontier Communications Parent worth $211,758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Game Plan Financial Advisors LLC raised its stake in shares of Frontier Communications Parent by 23.8% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after acquiring an additional 500 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Frontier Communications Parent by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after purchasing an additional 585 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Frontier Communications Parent by 6.8% in the 2nd quarter. Wedmont Private Capital now owns 10,075 shares of the company’s stock worth $275,000 after purchasing an additional 640 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Frontier Communications Parent by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock worth $180,000 after purchasing an additional 732 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in Frontier Communications Parent by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 277,784 shares of the company’s stock worth $6,806,000 after buying an additional 763 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on FYBR shares. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $38.50 in a research note on Tuesday. The Goldman Sachs Group lifted their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Finally, Citigroup boosted their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR opened at $35.35 on Thursday. The company has a 50 day simple moving average of $29.76 and a two-hundred day simple moving average of $26.53. The stock has a market cap 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 12 month low of $13.66 and a 12 month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts predict 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.