Friedenthal Financial Purchases New Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Friedenthal Financial acquired a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 21,269 shares of the company’s stock, valued at approximately $756,000.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Frontier Communications Parent by 91.6% during the third quarter. Blue Trust Inc. now owns 4,302 shares of the company’s stock valued at $153,000 after acquiring an additional 2,057 shares during the period. Creative Planning raised its stake in Frontier Communications Parent by 21.5% during the 3rd quarter. Creative Planning now owns 14,383 shares of the company’s stock valued at $511,000 after purchasing an additional 2,541 shares during the period. Affinity Wealth Management LLC purchased a new stake in shares of Frontier Communications Parent in the third quarter valued at $4,060,000. Wedmont Private Capital boosted its position in shares of Frontier Communications Parent by 51.8% in the third quarter. Wedmont Private Capital now owns 15,292 shares of the company’s stock worth $540,000 after buying an additional 5,217 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Frontier Communications Parent by 18.9% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after buying an additional 444 shares in the last quarter.

Frontier Communications Parent Stock Down 0.4 %

Frontier Communications Parent stock opened at $35.70 on Friday. The company has a market capitalization of $8.87 billion, a P/E ratio of 324.55 and a beta of 1.10. Frontier Communications Parent, Inc. has a 1-year low of $16.29 and a 1-year high of $39.21. The firm’s fifty day simple moving average is $33.22 and its 200-day simple moving average is $28.27. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. Frontier Communications Parent’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FYBR has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Finally, BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.