114,278 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Bought by Affinity Wealth Management LLC

Affinity Wealth Management LLC purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 114,278 shares of the company’s stock, valued at approximately $4,060,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after acquiring an additional 108,344 shares during the period. Capital International Investors increased its holdings in shares of Frontier Communications Parent by 0.5% during the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after purchasing an additional 92,944 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Frontier Communications Parent by 12.0% during the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after buying an additional 1,462,646 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after buying an additional 1,587,145 shares during the period. Finally, Luxor Capital Group LP grew its position in Frontier Communications Parent by 1.6% during the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after buying an additional 43,542 shares in the last quarter.

Frontier Communications Parent Price Performance

FYBR stock traded up $0.03 during trading on Monday, hitting $35.28. 100,868 shares of the stock traded hands, compared to its average volume of 2,024,909. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 320.45 and a beta of 1.10. Frontier Communications Parent, Inc. has a one year low of $16.29 and a one year high of $39.21. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The company has a 50 day simple moving average of $32.39 and a 200 day simple moving average of $27.92.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) EPS. Equities analysts expect that Frontier Communications Parent, Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

FYBR has been the subject of several recent research reports. 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. The Goldman Sachs Group boosted their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.50 in a report on Tuesday, October 8th. Finally, Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.31.

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.