Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Purchased by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. boosted its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 345.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,744 shares of the company’s stock after buying an additional 345,744 shares during the period. Frontier Communications Parent accounts for approximately 2.4% of Columbus Hill Capital Management L.P.’s portfolio, making the stock its 21st biggest holding. Columbus Hill Capital Management L.P. owned about 0.18% of Frontier Communications Parent worth $11,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at $50,269,000. Coldstream Capital Management Inc. purchased a new position in Frontier Communications Parent during the 4th quarter worth $224,000. Trexquant Investment LP acquired a new position in Frontier Communications Parent in the fourth quarter valued at $2,942,000. Cape Investment Advisory Inc. purchased a new stake in shares of Frontier Communications Parent in the fourth quarter valued at about $52,000. Finally, United Services Automobile Association boosted its stake in shares of Frontier Communications Parent by 14.3% during the fourth quarter. United Services Automobile Association now owns 17,563 shares of the company’s stock worth $445,000 after buying an additional 2,201 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FYBR shares. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a report on Thursday, September 5th. The Goldman Sachs Group increased their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Four investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Frontier Communications Parent Stock Up 0.7 %

FYBR opened at $35.65 on Friday. Frontier Communications Parent, Inc. has a one year low of $13.66 and a one year high of $39.21. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 324.09 and a beta of 1.08. The business’s fifty day moving average is $29.93 and its two-hundred day moving average is $26.59. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) earnings per share. Analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 EPS for the current fiscal year.

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.