American International Group Inc. Sells 5,950 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

American International Group Inc. decreased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 293,012 shares of the company’s stock after selling 5,950 shares during the period. American International Group Inc.’s holdings in Frontier Communications Parent were worth $7,179,000 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. Hexagon Capital Partners LLC lifted its holdings in Frontier Communications Parent by 120.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock valued at $25,000 after buying an additional 532 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $31,000. Neo Ivy Capital Management bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $49,000. Cape Investment Advisory Inc. bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $52,000. Finally, Game Plan Financial Advisors LLC raised its holdings in shares of Frontier Communications Parent by 320.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares in the last quarter.

Analysts Set New Price Targets

FYBR has been the subject of several recent research reports. UBS Group started coverage on shares of Frontier Communications Parent in a report on Thursday, July 18th. They issued a “buy” rating and a $33.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Frontier Communications Parent in a research report on Monday, July 1st. They issued a “buy” rating and a $29.00 price objective on the stock. TD Cowen dropped their target price on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Citigroup boosted their target price on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Bank of America assumed coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.38.

Frontier Communications Parent Stock Down 0.3 %

FYBR stock opened at $27.36 on Friday. The firm’s fifty day simple moving average is $26.15 and its 200-day simple moving average is $24.58. The company has a market capitalization of $6.80 billion, a P/E ratio of 248.73 and a beta of 1.08. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07. Frontier Communications Parent, Inc. has a 12 month low of $13.66 and a 12 month high of $28.44.

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.