State of New Jersey Common Pension Fund D Sells 35,921 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

State of New Jersey Common Pension Fund D trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 22.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 125,089 shares of the company's stock after selling 35,921 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of Frontier Communications Parent worth $3,170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FYBR. GAMMA Investing LLC bought a new position in Frontier Communications Parent in the 4th quarter valued at $31,000. Duality Advisers LP boosted its holdings in shares of Frontier Communications Parent by 66.2% in the 4th quarter. Duality Advisers LP now owns 60,450 shares of the company's stock worth $1,532,000 after buying an additional 24,068 shares during the last quarter. Handelsbanken Fonder AB grew its position in Frontier Communications Parent by 14.8% during the fourth quarter. Handelsbanken Fonder AB now owns 42,000 shares of the company's stock valued at $1,064,000 after buying an additional 5,400 shares during the period. Xponance Inc. increased its holdings in Frontier Communications Parent by 2.0% during the fourth quarter. Xponance Inc. now owns 28,019 shares of the company's stock worth $710,000 after buying an additional 559 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Frontier Communications Parent by 15.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,363 shares of the company's stock worth $1,023,000 after acquiring an additional 5,335 shares during the period.

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded up $0.31 during trading on Friday, reaching $22.93. 893,823 shares of the company's stock traded hands, compared to its average volume of 1,392,405. Frontier Communications Parent, Inc. has a 1 year low of $11.65 and a 1 year high of $25.89. The company has a market capitalization of $5.70 billion, a P/E ratio of 191.08 and a beta of 1.05. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. The firm's 50-day moving average is $23.45 and its 200 day moving average is $22.52.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The business's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. Equities research analysts expect that Frontier Communications Parent, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FYBR. Citigroup raised shares of Frontier Communications Parent from a "neutral" rating to a "buy" rating and increased their target price for the company from $28.00 to $30.00 in a research report on Monday, April 15th. Bank of America initiated coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They set a "buy" rating and a $30.00 price objective for the company. One investment 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.43.

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.