Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 40.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,471 shares of the company’s stock after selling 50,618 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Frontier Communications Parent were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Game Plan Financial Advisors LLC raised its holdings in Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares in the last quarter. SummerHaven Investment Management LLC increased its position 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 purchasing an additional 585 shares during the last quarter. Wedmont Private Capital raised its holdings 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 purchasing an additional 640 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Frontier Communications Parent by 11.5% during 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 during the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Frontier Communications Parent by 0.3% during the first quarter. Retirement Systems of Alabama now owns 277,784 shares of the company’s stock worth $6,806,000 after purchasing an additional 763 shares in the last quarter.

Frontier Communications Parent Stock Up 0.7 %

FYBR stock opened at $35.65 on Friday. 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 company has a fifty day moving average price of $30.10 and a 200 day moving average price of $26.67. 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 12 month low of $13.66 and a 12 month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted 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). 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Benchmark reaffirmed a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a report on Thursday, September 5th. Citigroup raised their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, The Goldman Sachs Group increased their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.