Swiss National Bank Buys 19,300 Shares of Frontier Communications Parent, Inc. $FYBR

Swiss National Bank boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 429,400 shares of the company’s stock after purchasing an additional 19,300 shares during the quarter. Swiss National Bank owned about 0.17% of Frontier Communications Parent worth $15,630,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Frontier Communications Parent in the 1st quarter valued at approximately $911,000. Cetera Investment Advisers increased its stake in Frontier Communications Parent by 5.6% in the first quarter. Cetera Investment Advisers now owns 18,610 shares of the company’s stock valued at $667,000 after acquiring an additional 991 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Frontier Communications Parent by 14.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,299 shares of the company’s stock valued at $1,983,000 after purchasing an additional 7,074 shares in the last quarter. Norden Group LLC acquired a new position in Frontier Communications Parent during the first quarter valued at approximately $236,000. Finally, Bayforest Capital Ltd lifted its stake in Frontier Communications Parent by 208.8% during the first quarter. Bayforest Capital Ltd now owns 8,421 shares of the company’s stock worth $302,000 after purchasing an additional 5,694 shares during the last quarter.

Analyst Ratings Changes

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

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $37.87 on Thursday. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of -24.91 and a beta of 0.94. Frontier Communications Parent, Inc. has a twelve month low of $34.39 and a twelve month high of $37.98. The company’s fifty day moving average is $37.59 and its 200 day moving average is $37.02. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.56.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Frontier Communications Parent 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.