Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,693 shares of the company’s stock after acquiring an additional 1,370 shares during the period. State of Alaska Department of Revenue’s holdings in Frontier Communications Parent were worth $912,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FYBR. International Assets Investment Management LLC acquired a new position in Frontier Communications Parent during the second quarter valued at approximately $37,000. Blue Trust Inc. lifted its position in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of Frontier Communications Parent by 23.8% during the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Frontier Communications Parent by 18.9% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after purchasing an additional 444 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Frontier Communications Parent by 140.9% during the first quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock worth $103,000 after purchasing an additional 2,461 shares in the last quarter.

Wall Street Analyst Weigh In

FYBR has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Raymond James lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $38.50 in a research note on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Down 1.3 %

Frontier Communications Parent stock opened at $34.95 on Wednesday. The company has a 50-day simple moving average of $34.85 and a 200-day simple moving average of $29.29. The firm has a market capitalization of $8.70 billion, a P/E ratio of -94.46 and a beta of 1.10. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. Frontier Communications Parent, Inc. has a one year low of $18.43 and a one year high of $39.21.

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.