State of New Jersey Common Pension Fund D lowered its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Free Report) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,089 shares of the company’s stock after selling 35,921 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Frontier Communications Parent worth $3,170,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Frontier Communications Parent during the fourth quarter worth approximately $31,000. Duality Advisers LP boosted its position in Frontier Communications Parent by 66.2% during the fourth quarter. Duality Advisers LP now owns 60,450 shares of the company’s stock worth $1,532,000 after purchasing an additional 24,068 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Frontier Communications Parent by 14.8% during the fourth quarter. Handelsbanken Fonder AB now owns 42,000 shares of the company’s stock worth $1,064,000 after purchasing an additional 5,400 shares in the last quarter. Xponance Inc. boosted its position in Frontier Communications Parent by 2.0% during the fourth quarter. Xponance Inc. now owns 28,019 shares of the company’s stock worth $710,000 after purchasing an additional 559 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Frontier Communications Parent by 15.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,363 shares of the company’s stock worth $1,023,000 after purchasing an additional 5,335 shares in the last quarter.
Frontier Communications Parent Price Performance
NASDAQ:FYBR opened at $22.93 on Friday. Frontier Communications Parent, Inc. has a one year low of $11.65 and a one year high of $25.89. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $5.70 billion, a PE ratio of 191.08 and a beta of 1.05. The stock has a 50 day moving average price of $23.45 and a 200 day moving average price of $22.48.
Analyst Ratings Changes
FYBR has been the topic of a number of recent analyst reports. Citigroup upgraded Frontier Communications Parent from a “neutral” rating to a “buy” rating and increased their price target for the stock from $28.00 to $30.00 in a research report on Monday, April 15th. Bank of America started coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Moderate Buy” and a consensus price target of $27.43.
View Our Latest Research Report on FYBR
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.
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