47,916 Shares in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 47,916 shares of the company's stock, valued at approximately $1,214,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FYBR. Treasurer of the State of North Carolina lifted its position in Frontier Communications Parent by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company's stock valued at $1,683,000 after acquiring an additional 550 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of 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 purchasing an additional 736 shares in the last quarter. United Services Automobile Association boosted its position in shares of Frontier Communications Parent by 12.0% during the third quarter. United Services Automobile Association now owns 15,362 shares of the company's stock valued at $240,000 after buying an additional 1,643 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Frontier Communications Parent by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 39,399 shares of the company's stock worth $617,000 after buying an additional 1,804 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Frontier Communications Parent by 11.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company's stock worth $548,000 after buying an additional 3,592 shares during the last quarter.

Analysts Set New Price Targets

FYBR has been the subject of a number of research analyst reports. Bank of America started coverage on shares of Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a "buy" rating and a $30.00 price target for the company. Citigroup raised shares of Frontier Communications Parent from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $28.00 to $30.00 in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Frontier Communications Parent has an average rating of "Moderate Buy" and a consensus target price of $27.43.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR traded up $1.07 during mid-day trading on Tuesday, reaching $22.87. 1,463,180 shares of the company traded hands, compared to its average volume of 1,688,786. The firm has a market cap of $5.68 billion, a PE ratio of 192.33 and a beta of 1.05. The company's 50 day moving average price is $23.41 and its 200-day moving average price is $22.33. Frontier Communications Parent, Inc. has a 52 week low of $11.65 and a 52 week high of $25.89. 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 (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the business posted $0.63 EPS. The firm's revenue for the quarter was down .8% compared to the same quarter last year. On average, equities analysts expect that Frontier Communications Parent, Inc. will post -0.44 EPS for the current fiscal 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.