Principal Financial Group Inc. Trims Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Principal Financial Group Inc. lessened its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 509,410 shares of the company’s stock after selling 4,228 shares during the quarter. Principal Financial Group Inc. owned 0.20% of Frontier Communications Parent worth $17,677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Frontier Communications Parent by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock valued at $82,108,000 after buying an additional 109,648 shares during the period. Anchorage Capital Advisors L.P. lifted its holdings in shares of Frontier Communications Parent by 26.6% in the 3rd quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock valued at $61,451,000 after buying an additional 362,888 shares during the period. Slotnik Capital LLC purchased a new position in shares of Frontier Communications Parent in the 3rd quarter valued at about $34,286,000. Rhumbline Advisers increased its stake in shares of Frontier Communications Parent by 1.0% in the 4th quarter. Rhumbline Advisers now owns 629,712 shares of the company’s stock valued at $21,851,000 after purchasing an additional 6,328 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Frontier Communications Parent by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,310 shares of the company’s stock valued at $20,085,000 after purchasing an additional 6,800 shares in the last quarter.

Frontier Communications Parent Trading Up 0.3 %

FYBR opened at $35.86 on Wednesday. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The stock has a market capitalization of $8.95 billion, a PE ratio of -27.80 and a beta of 1.05. The business’s 50 day moving average price is $35.42 and its 200 day moving average price is $34.52. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analyst Upgrades and Downgrades

FYBR has been the subject of a number of analyst reports. Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Communications Parent has an average rating of “Hold” and an average price target of $35.31.

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.