Trexquant Investment LP Makes New $2.94 Million Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Trexquant Investment LP bought a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 116,120 shares of the company’s stock, valued at approximately $2,942,000.

Several other institutional investors also recently bought and sold shares of the stock. Raymond James & Associates boosted its holdings in Frontier Communications Parent by 123.5% during the 3rd quarter. Raymond James & Associates now owns 48,642 shares of the company’s stock valued at $761,000 after acquiring an additional 26,877 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Frontier Communications Parent in the third quarter worth $234,000. California Public Employees Retirement System grew its position in Frontier Communications Parent by 18.4% during the third quarter. California Public Employees Retirement System now owns 438,889 shares of the company’s stock valued at $6,869,000 after acquiring an additional 68,080 shares during the period. Victory Capital Management Inc. boosted its holdings in Frontier Communications Parent by 4.8% in the third quarter. Victory Capital Management Inc. now owns 39,399 shares of the company’s stock valued at $617,000 after purchasing an additional 1,804 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Frontier Communications Parent by 1.4% during the third quarter. Arizona State Retirement System now owns 52,395 shares of the company’s stock valued at $820,000 after buying an additional 736 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup increased their target price on Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Bank of America assumed coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. Finally, TD Cowen dropped their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.13.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded down $0.49 during trading hours on Friday, hitting $25.58. 938,781 shares of the company’s stock traded hands, compared to its average volume of 1,411,930. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. Frontier Communications Parent, Inc. has a 52 week low of $11.65 and a 52 week high of $27.41. The firm has a market capitalization of $6.36 billion, a P/E ratio of 232.55 and a beta of 1.05. The business’s fifty day moving average price is $24.33 and its two-hundred day moving average price is $23.53.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $0.63 EPS. Frontier Communications Parent’s revenue was down .8% on a year-over-year basis. Equities research analysts predict that Frontier Communications Parent, Inc. will post -0.12 EPS for the current year.

Frontier Communications Parent 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.