New York State Teachers Retirement System Acquires 2,255 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

New York State Teachers Retirement System grew its position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 151,243 shares of the company’s stock after acquiring an additional 2,255 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Frontier Communications Parent worth $5,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FYBR. Slotnik Capital LLC bought a new stake in Frontier Communications Parent in the third quarter worth $34,286,000. Sand Grove Capital Management LLP bought a new stake in Frontier Communications Parent in the third quarter worth $18,490,000. Anchorage Capital Advisors L.P. lifted its position in Frontier Communications Parent by 26.6% in the third quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock worth $61,451,000 after buying an additional 362,888 shares during the last quarter. SG Americas Securities LLC lifted its position in Frontier Communications Parent by 1,283.8% in the fourth quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock worth $11,159,000 after buying an additional 298,339 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in Frontier Communications Parent in the fourth quarter worth $9,948,000.

Analysts Set New Price Targets

FYBR has been the subject of a number of analyst reports. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Benchmark lowered Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $35.78 on Friday. The firm has a market cap of $8.91 billion, a P/E ratio of -47.71 and a beta of 1.05. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 12 month low of $20.51 and a 12 month high of $39.21. The stock’s fifty day moving average price is $35.36 and its 200-day moving average price is $34.25.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.92 earnings per share for the current fiscal year.

About Frontier Communications Parent

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.