ING Groep NV Invests $2.04 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

ING Groep NV acquired a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 58,800 shares of the company’s stock, valued at approximately $2,040,000.

A number of other institutional investors have also recently bought and sold shares of the business. Creative Planning increased its holdings in shares of Frontier Communications Parent by 21.5% in the 3rd quarter. Creative Planning now owns 14,383 shares of the company’s stock valued at $511,000 after purchasing an additional 2,541 shares during the period. Blue Trust Inc. grew its position in Frontier Communications Parent by 91.6% during the third quarter. Blue Trust Inc. now owns 4,302 shares of the company’s stock valued at $153,000 after purchasing an additional 2,057 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Frontier Communications Parent in the 3rd quarter valued at approximately $222,000. State of Alaska Department of Revenue increased its stake in Frontier Communications Parent by 5.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,693 shares of the company’s stock valued at $912,000 after buying an additional 1,370 shares during the period. Finally, US Bancorp DE lifted its position in Frontier Communications Parent by 8.4% in the 3rd quarter. US Bancorp DE now owns 7,750 shares of the company’s stock worth $275,000 after buying an additional 598 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FYBR shares. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $35.78 on Monday. Frontier Communications Parent, Inc. has a one year low of $20.51 and a one year high of $39.21. The company’s fifty day moving average price is $35.38 and its two-hundred day moving average price is $34.41. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of -27.74 and a beta of 1.05. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS 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 for the quarter, compared to analyst estimates of $1.47 billion. On average, analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Frontier Communications Parent Company Profile

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.