Inspire Investing LLC Makes New $823,000 Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Inspire Investing LLC acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,432 shares of the company’s stock, valued at approximately $823,000.

A number of other hedge funds have also modified their holdings of FYBR. International Assets Investment Management LLC acquired a new stake in Frontier Communications Parent during the 2nd quarter worth $37,000. Neo Ivy Capital Management purchased a new stake in shares of Frontier Communications Parent in the fourth quarter valued at about $49,000. Game Plan Financial Advisors LLC boosted its stake in shares of Frontier Communications Parent by 320.0% during the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the period. Cape Investment Advisory Inc. purchased a new position in shares of Frontier Communications Parent during the fourth quarter worth about $52,000. Finally, Blue Trust Inc. increased its position in 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 acquiring an additional 2,244 shares during the period.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Benchmark reiterated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Citigroup raised their target price on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $38.50 in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Frontier Communications Parent Trading Up 0.7 %

Shares of FYBR stock opened at $35.65 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 324.09 and a beta of 1.08. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $39.21. The business has a fifty day simple moving average of $29.93 and a 200-day simple moving average of $26.59.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company 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. On average, analysts forecast that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal 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.