Magnolia Group LLC Acquires 36,000 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Magnolia Group LLC increased its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,476,931 shares of the company’s stock after buying an additional 36,000 shares during the quarter. Frontier Communications Parent comprises 16.7% of Magnolia Group LLC’s portfolio, making the stock its 2nd largest holding. Magnolia Group LLC owned about 1.82% of Frontier Communications Parent worth $113,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in shares of Frontier Communications Parent during the 4th quarter worth about $31,000. Covestor Ltd increased its position in shares of Frontier Communications Parent by 101.6% during the third quarter. Covestor Ltd now owns 7,811 shares of the company’s stock worth $122,000 after acquiring an additional 3,937 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Frontier Communications Parent in the third quarter valued at about $157,000. Janney Montgomery Scott LLC bought a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $157,000. Finally, Aristeia Capital LLC bought a new position in shares of Frontier Communications Parent during the 3rd quarter valued at $163,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FYBR shares. Bank of America assumed coverage on shares of 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. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $30.00 in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.43.

Frontier Communications Parent Trading Down 1.9 %

Frontier Communications Parent stock traded down $0.46 during trading hours on Tuesday, reaching $23.14. 1,068,618 shares of the company’s stock traded hands, compared to its average volume of 1,651,687. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 192.83 and a beta of 1.05. The firm’s 50 day moving average is $23.48 and its 200-day moving average is $22.57. Frontier Communications Parent, Inc. has a fifty-two week low of $11.65 and a fifty-two week high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. On average, analysts predict that Frontier Communications Parent, Inc. will post -0.2 earnings per share for the current year.

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.