Victory Capital Management Inc. Has $1.67 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Victory Capital Management Inc. grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,860 shares of the company’s stock after acquiring an additional 4,755 shares during the period. Victory Capital Management Inc.’s holdings in Frontier Communications Parent were worth $1,672,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Game Plan Financial Advisors LLC grew its holdings in 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 during the period. SummerHaven Investment Management LLC grew its stake in shares of Frontier Communications Parent by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after buying an additional 585 shares during the period. Wedmont Private Capital grew its stake 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 valued at $275,000 after buying an additional 640 shares during the period. PNC Financial Services Group Inc. grew its stake 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 valued at $180,000 after buying an additional 732 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of Frontier Communications Parent by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 277,784 shares of the company’s stock valued at $6,806,000 after buying an additional 763 shares during the period.

Frontier Communications Parent Trading Down 0.8 %

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

Frontier Communications Parent (NASDAQ:FYBR) last issued 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 the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup lifted their price target on Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $38.50 in a research report on Tuesday. Finally, UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

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.