Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,113 shares of the company’s stock after purchasing an additional 732 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Frontier Communications Parent were worth $180,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Frontier Communications Parent by 5.2% in the third quarter. Invesco Ltd. now owns 783,171 shares of the company’s stock valued at $12,257,000 after acquiring an additional 38,791 shares during the period. Treasurer of the State of North Carolina raised its position in Frontier Communications Parent by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company’s stock valued at $1,683,000 after purchasing an additional 550 shares during the last quarter. Tudor Investment Corp Et Al boosted its stake in Frontier Communications Parent by 63.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after purchasing an additional 140,943 shares during the period. JANA Partners Management LP purchased a new position in Frontier Communications Parent during the 3rd quarter worth $129,569,000. Finally, American Century Companies Inc. increased its stake in Frontier Communications Parent by 83.9% in the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock valued at $24,180,000 after purchasing an additional 704,857 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FYBR shares. Citigroup raised their price target on Frontier Communications Parent from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Bank of America began coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 target price on the stock. TD Cowen cut their price target on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Finally, The Goldman Sachs Group started coverage on shares of Frontier Communications Parent in a research report on Monday. They issued a “buy” rating and a $29.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, Frontier Communications Parent currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Frontier Communications Parent Stock Performance

Shares of FYBR stock opened at $26.12 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. The stock has a 50 day simple moving average of $25.57 and a 200-day simple moving average of $24.33. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 237.45 and a beta of 1.08. Frontier Communications Parent, Inc. has a 12-month low of $11.65 and a 12-month high of $27.41.

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.