Alberta Investment Management Corp Makes New $24.86 Million Investment in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Alberta Investment Management Corp acquired a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 716,500 shares of the company's stock, valued at approximately $24,863,000. Alberta Investment Management Corp owned about 0.29% of Frontier Communications Parent as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in Frontier Communications Parent by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock valued at $263,000 after purchasing an additional 377 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of Frontier Communications Parent by 200.0% during the 4th quarter. Game Plan Financial Advisors LLC now owns 9,000 shares of the company's stock valued at $313,000 after acquiring an additional 6,000 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Frontier Communications Parent by 1.0% during the 4th quarter. Rhumbline Advisers now owns 629,712 shares of the company's stock valued at $21,851,000 after acquiring an additional 6,328 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of Frontier Communications Parent during the 4th quarter valued at about $5,259,000. Finally, Blue Trust Inc. boosted its holdings in shares of Frontier Communications Parent by 36.8% during the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock valued at $209,000 after acquiring an additional 1,581 shares during the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR remained flat at $35.78 during trading on Friday. 2,172,263 shares of the stock traded hands, compared to its average volume of 2,040,660. The company has a 50 day simple moving average of $35.38 and a 200-day simple moving average of $34.36. Frontier Communications Parent, Inc. has a 52-week low of $20.51 and a 52-week high of $39.21. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of -27.74 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FYBR. Benchmark downgraded shares of Frontier Communications Parent from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $35.31.

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.