Charles Schwab Investment Management Inc. Acquires 252,408 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Charles Schwab Investment Management Inc. increased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,914,437 shares of the company's stock after purchasing an additional 252,408 shares during the period. Charles Schwab Investment Management Inc. owned 1.19% of Frontier Communications Parent worth $73,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its position in shares of Frontier Communications Parent by 120.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 975 shares of the company's stock worth $25,000 after buying an additional 532 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $31,000. Covestor Ltd boosted its position in shares of Frontier Communications Parent by 101.6% during the 3rd quarter. Covestor Ltd now owns 7,811 shares of the company's stock valued at $122,000 after acquiring an additional 3,937 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Frontier Communications Parent in the third quarter valued at $157,000. Finally, Janney Montgomery Scott LLC bought a new stake in Frontier Communications Parent in the third quarter worth $157,000.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded up $0.58 during trading hours on Wednesday, reaching $26.72. The company had a trading volume of 2,376,749 shares, compared to its average volume of 1,649,337. The firm has a market cap of $6.64 billion, a PE ratio of 242.91 and a beta of 1.05. Frontier Communications Parent, Inc. has a 1-year low of $11.65 and a 1-year high of $27.41. The business's 50 day moving average price is $24.02 and its 200-day moving average price is $23.19. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07.

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 business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The company's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. Research analysts forecast that Frontier Communications Parent, Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

FYBR has been the subject of several recent analyst reports. TD Cowen dropped their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a "buy" rating for the company in a research note on Monday, May 6th. Citigroup upped their price target on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, May 7th. Finally, Bank of America began coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They set a "buy" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Frontier Communications Parent has a consensus rating of "Moderate Buy" and a consensus price target of $29.13.

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.