New York Life Investment Management LLC Invests $9.15 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

New York Life Investment Management LLC bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, Holdings Channel.com reports. The firm bought 263,628 shares of the company’s stock, valued at approximately $9,148,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FYBR. Oregon Public Employees Retirement Fund lifted its stake in shares of Frontier Communications Parent by 0.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company’s stock valued at $1,565,000 after purchasing an additional 344 shares during the period. Franklin Resources Inc. increased its holdings in Frontier Communications Parent by 0.8% in the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after purchasing an additional 372 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Frontier Communications Parent by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock valued at $263,000 after buying an additional 377 shares during the period. UMB Bank n.a. boosted its holdings in shares of Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 425 shares in the last quarter. Finally, Jag Capital Management LLC grew its position in shares of Frontier Communications Parent by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock worth $320,000 after buying an additional 445 shares during the period.

Frontier Communications Parent Price Performance

FYBR stock opened at $35.76 on Friday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The business has a 50-day simple moving average of $35.47 and a two-hundred day simple moving average of $34.54. The company has a market capitalization of $8.93 billion, a P/E ratio of -27.72 and a beta of 1.05. Frontier Communications Parent, Inc. has a 52-week low of $21.31 and a 52-week high of $39.21.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FYBR. Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday. Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.