Public Employees Retirement System of Ohio Has $3.17 Million Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Public Employees Retirement System of Ohio reduced its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,158 shares of the company’s stock after selling 4,440 shares during the period. Public Employees Retirement System of Ohio’s holdings in Frontier Communications Parent were worth $3,168,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FYBR. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent during the 2nd quarter valued at $37,000. Capital Performance Advisors LLP bought a new stake in Frontier Communications Parent in the third quarter valued at $50,000. Meeder Asset Management Inc. acquired a new position in shares of Frontier Communications Parent during the third quarter valued at about $52,000. Blue Trust Inc. boosted its position in shares of Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Frontier Communications Parent by 80.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares during the period.

Analysts Set New Price Targets

Several research analysts have issued reports on FYBR shares. TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.50 in a report on Tuesday, October 8th. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Up 0.3 %

Shares of NASDAQ:FYBR opened at $34.76 on Tuesday. The company has a market capitalization of $8.66 billion, a PE ratio of -46.35 and a beta of 1.05. Frontier Communications Parent, Inc. has a 1 year low of $20.51 and a 1 year high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $35.10 and a two-hundred day moving average price of $31.33.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. Analysts forecast that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

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.