New York Life Investment Management LLC Purchases New Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

New York Life Investment Management LLC acquired a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 263,628 shares of the company’s stock, valued at approximately $9,148,000. New York Life Investment Management LLC owned 0.11% of Frontier Communications Parent at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Slotnik Capital LLC bought a new position in shares of Frontier Communications Parent in the third quarter worth $34,286,000. Alberta Investment Management Corp acquired a new stake in Frontier Communications Parent during the fourth quarter worth about $24,863,000. Sand Grove Capital Management LLP acquired a new stake in Frontier Communications Parent during the third quarter worth about $18,490,000. Anchorage Capital Advisors L.P. increased its holdings in 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. Finally, SG Americas Securities LLC raised its position in shares of Frontier Communications Parent by 1,283.8% in the 4th quarter. SG Americas Securities LLC now owns 321,578 shares of the company’s stock valued at $11,159,000 after buying an additional 298,339 shares in the last quarter.

Analyst Upgrades and Downgrades

FYBR has been the topic of several analyst reports. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday. Finally, Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.5 %

NASDAQ FYBR opened at $35.76 on Friday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of -27.72 and a beta of 1.05. Frontier Communications Parent, Inc. has a twelve month low of $21.31 and a twelve month high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The business’s fifty day moving average is $35.47 and its 200 day moving average is $34.54.

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

Frontier Communications Parent 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.