Amalgamated Bank Cuts Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Amalgamated Bank lessened its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,224 shares of the company’s stock after selling 11,252 shares during the period. Amalgamated Bank owned about 0.06% of Frontier Communications Parent worth $3,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FYBR. Dimensional Fund Advisors LP boosted its holdings in Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after buying an additional 1,587,145 shares during the last quarter. American Century Companies Inc. boosted its position in Frontier Communications Parent by 4.1% during the second quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock worth $52,515,000 after acquiring an additional 79,265 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Frontier Communications Parent by 10.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,870 shares of the company’s stock valued at $206,000 after acquiring an additional 770 shares in the last quarter. Arizona State Retirement System grew its stake in Frontier Communications Parent by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 52,185 shares of the company’s stock valued at $1,366,000 after acquiring an additional 1,524 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Frontier Communications Parent by 8.0% in the 2nd quarter. Victory Capital Management Inc. now owns 63,860 shares of the company’s stock worth $1,672,000 after purchasing an additional 4,755 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FYBR shares. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Finally, Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.38.

Frontier Communications Parent Stock Up 0.7 %

Shares of FYBR opened at $35.65 on Monday. The stock has a market capitalization of $8.86 billion, a PE ratio of 324.09 and a beta of 1.08. Frontier Communications Parent, Inc. has a 1 year low of $13.66 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. The company’s 50-day simple moving average is $30.10 and its 200-day simple moving average is $26.69.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The business 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 firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. Analysts forecast that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

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.