Retirement Systems of Alabama Increases Stock Holdings in Frontier Communications Parent, Inc. $FYBR

Retirement Systems of Alabama grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,646 shares of the company’s stock after purchasing an additional 30,433 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Frontier Communications Parent worth $11,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FYBR. Qube Research & Technologies Ltd grew its position in Frontier Communications Parent by 52.9% during the second quarter. Qube Research & Technologies Ltd now owns 6,238,099 shares of the company’s stock valued at $227,067,000 after buying an additional 2,157,594 shares during the period. Norges Bank bought a new stake in shares of Frontier Communications Parent during the 2nd quarter valued at $207,593,000. Balyasny Asset Management L.P. grew its position in shares of Frontier Communications Parent by 130.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company’s stock valued at $165,708,000 after acquiring an additional 2,577,691 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Frontier Communications Parent by 1.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,364,189 shares of the company’s stock worth $86,056,000 after purchasing an additional 43,562 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Frontier Communications Parent by 129.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company’s stock worth $83,792,000 after purchasing an additional 1,316,597 shares during the period.

Frontier Communications Parent Trading Up 0.1%

Shares of FYBR stock opened at $38.49 on Thursday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a fifty day simple moving average of $38.14 and a two-hundred day simple moving average of $37.56. The firm has a market capitalization of $9.64 billion, a PE ratio of -25.32 and a beta of 0.94. Frontier Communications Parent, Inc. has a 52-week low of $35.31 and a 52-week high of $38.50.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FYBR shares. Zacks Research raised Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Frontier Communications Parent in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Hold”.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.