KLP Kapitalforvaltning AS Acquires 3,700 Shares of Frontier Communications Parent, Inc. $FYBR

KLP Kapitalforvaltning AS raised its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,200 shares of the company’s stock after purchasing an additional 3,700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Frontier Communications Parent were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Frontier Communications Parent by 957.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 772 shares of the company’s stock worth $28,000 after acquiring an additional 699 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company’s stock worth $41,000 after acquiring an additional 359 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Frontier Communications Parent in the 1st quarter worth about $74,000. Fifth Third Bancorp lifted its holdings in shares of Frontier Communications Parent by 15.4% in the 1st quarter. Fifth Third Bancorp now owns 2,424 shares of the company’s stock worth $87,000 after acquiring an additional 323 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Frontier Communications Parent by 29.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,921 shares of the company’s stock worth $143,000 after acquiring an additional 898 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Communications Parent in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Frontier Communications Parent Trading Down 0.1%

FYBR stock opened at $37.32 on Monday. The company has a market capitalization of $9.34 billion, a PE ratio of -24.08 and a beta of 0.94. Frontier Communications Parent, Inc. has a 12 month low of $33.72 and a 12 month high of $37.87. The firm’s 50-day moving average is $37.15 and its 200 day moving average is $36.64. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.49) EPS. On average, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

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.