Resona Asset Management Co. Ltd. Makes New Investment in Frontier Communications Parent, Inc. $FYBR

Resona Asset Management Co. Ltd. bought a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,264 shares of the company’s stock, valued at approximately $738,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FYBR. Cerity Partners LLC grew its position in Frontier Communications Parent by 10.2% in the first quarter. Cerity Partners LLC now owns 11,775 shares of the company’s stock valued at $422,000 after acquiring an additional 1,087 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Frontier Communications Parent by 1.0% during the first quarter. State of Michigan Retirement System now owns 53,000 shares of the company’s stock worth $1,901,000 after purchasing an additional 500 shares in the last quarter. Xponance Inc. boosted its stake in shares of Frontier Communications Parent by 1.3% in the first quarter. Xponance Inc. now owns 26,712 shares of the company’s stock valued at $958,000 after purchasing an additional 333 shares during the period. Arizona State Retirement System boosted its stake in shares of Frontier Communications Parent by 5.0% in the first quarter. Arizona State Retirement System now owns 60,705 shares of the company’s stock valued at $2,177,000 after purchasing an additional 2,909 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in Frontier Communications Parent by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 62,100 shares of the company’s stock valued at $2,227,000 after purchasing an additional 600 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Frontier Communications Parent in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Reduce”.

Frontier Communications Parent Trading Down 0.0%

NASDAQ FYBR opened at $37.87 on Wednesday. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of -24.91 and a beta of 0.94. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.30 and a quick ratio of 0.30. Frontier Communications Parent, Inc. has a 12 month low of $33.72 and a 12 month high of $37.91. The company’s fifty day moving average price is $37.47 and its two-hundred day moving average price is $36.91.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Frontier Communications Parent had a negative net margin of 6.24% and a negative return on equity of 7.91%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) EPS. As a group, research analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

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.