Mackenzie Financial Corp Boosts Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mackenzie Financial Corp grew its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 62.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 583,940 shares of the company's stock after acquiring an additional 225,293 shares during the period. Mackenzie Financial Corp owned about 0.24% of Frontier Communications Parent worth $14,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. JANA Partners Management LP acquired a new stake in shares of Frontier Communications Parent during the third quarter valued at approximately $129,569,000. State Street Corp raised its stake in Frontier Communications Parent by 97.5% during the 3rd quarter. State Street Corp now owns 6,134,736 shares of the company's stock valued at $143,737,000 after purchasing an additional 3,028,313 shares during the period. Norges Bank purchased a new stake in shares of Frontier Communications Parent in the fourth quarter valued at $54,468,000. Capital International Investors boosted its position in shares of Frontier Communications Parent by 19.8% in the first quarter. Capital International Investors now owns 10,953,760 shares of the company's stock worth $303,091,000 after buying an additional 1,809,275 shares during the period. Finally, Glendon Capital Management LP grew its holdings in shares of Frontier Communications Parent by 6.2% during the third quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company's stock valued at $378,979,000 after buying an additional 1,417,609 shares in the last quarter.

Frontier Communications Parent Stock Down 3.9 %

Shares of FYBR stock traded down $0.87 on Friday, hitting $21.70. The company's stock had a trading volume of 2,557,642 shares, compared to its average volume of 1,696,818. The firm's fifty day moving average price is $23.44 and its 200-day moving average price is $22.17. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. Frontier Communications Parent, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $25.89. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 180.83 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Frontier Communications Parent's revenue was down .8% compared to the same quarter last year. Research analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FYBR shares. Citigroup raised Frontier Communications Parent from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $28.00 to $30.00 in a research note on Monday. Bank of America started coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They issued a "buy" rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.43.

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.