New York Life Investment Management LLC Sells 306,057 Shares of Frontier Communications Parent, Inc. $FYBR

New York Life Investment Management LLC reduced its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 92.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,550 shares of the company’s stock after selling 306,057 shares during the period. New York Life Investment Management LLC’s holdings in Frontier Communications Parent were worth $880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Frontier Communications Parent by 56.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,571 shares of the company’s stock worth $59,000 after buying an additional 567 shares during the last quarter. Carlson Capital L.P. lifted its holdings in shares of Frontier Communications Parent by 154.2% in the 3rd quarter. Carlson Capital L.P. now owns 61,000 shares of the company’s stock valued at $2,278,000 after acquiring an additional 37,000 shares during the last quarter. State of Michigan Retirement System grew its position in Frontier Communications Parent by 11.2% in the third quarter. State of Michigan Retirement System now owns 59,600 shares of the company’s stock worth $2,226,000 after acquiring an additional 6,000 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Frontier Communications Parent by 490.1% during the third quarter. Hantz Financial Services Inc. now owns 2,496 shares of the company’s stock worth $93,000 after acquiring an additional 2,073 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Frontier Communications Parent by 577.1% during the third quarter. Allianz Asset Management GmbH now owns 586,132 shares of the company’s stock worth $21,892,000 after acquiring an additional 499,570 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FYBR. Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a report on Monday, December 29th. Zacks Research upgraded Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Frontier Communications Parent currently has an average rating of “Hold”.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $38.49 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.56. The stock’s fifty day moving average is $38.28 and its two-hundred day moving average is $37.70. Frontier Communications Parent, Inc. has a 52 week low of $35.31 and a 52 week high of $38.50. The company has a market capitalization of $9.64 billion, a PE ratio of -25.32 and a beta of 0.94.

Frontier Communications Parent Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.