Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 27.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 413,900 shares of the company’s stock after selling 156,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Frontier Communications Parent were worth $10,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its stake in shares of Frontier Communications Parent by 120.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock worth $25,000 after acquiring an additional 532 shares in the last quarter. GAMMA Investing LLC acquired a new position in Frontier Communications Parent during the fourth quarter worth $31,000. Neo Ivy Capital Management purchased a new stake in Frontier Communications Parent during the fourth quarter worth $49,000. Game Plan Financial Advisors LLC grew its holdings in Frontier Communications Parent by 320.0% in the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Frontier Communications Parent in the fourth quarter valued at $52,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FYBR. TD Cowen decreased their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. UBS Group started coverage on shares of Frontier Communications Parent in a research report on Thursday, July 18th. They issued a “buy” rating and a $33.00 price target on the stock. Citigroup lifted their price objective on Frontier Communications Parent from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Bank of America started coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on Frontier Communications Parent in a research report on Monday, July 1st. They set a “buy” rating and a $29.00 price target for the company. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Frontier Communications Parent presently has a consensus rating of “Moderate Buy” and an average price target of $30.38.

Frontier Communications Parent Price Performance

FYBR stock remained flat at $27.45 during midday trading on Thursday. 1,283,550 shares of the company’s stock traded hands, compared to its average volume of 1,508,690. The business has a 50-day moving average price of $26.14 and a 200-day moving average price of $24.56. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 249.55 and a beta of 1.08. Frontier Communications Parent, Inc. has a 12-month low of $13.66 and a 12-month high of $28.44.

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.