ING Groep NV Acquires New Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

ING Groep NV purchased a new stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 58,800 shares of the company's stock, valued at approximately $2,040,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FYBR. UMB Bank n.a. boosted its position in shares of Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after buying an additional 425 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Frontier Communications Parent in the 3rd quarter worth $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Frontier Communications Parent in the third quarter valued at about $52,000. Farther Finance Advisors LLC raised its holdings in shares of Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company's stock valued at $64,000 after purchasing an additional 811 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Frontier Communications Parent during the third quarter valued at about $91,000.

Frontier Communications Parent Stock Performance

Shares of FYBR traded down $0.17 during trading hours on Thursday, hitting $35.76. The company's stock had a trading volume of 2,548,815 shares, compared to its average volume of 2,461,537. The business has a 50 day simple moving average of $35.45 and a two-hundred day simple moving average of $34.53. Frontier Communications Parent, Inc. has a 52-week low of $21.31 and a 52-week high of $39.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $8.93 billion, a price-to-earnings ratio of -27.72 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday. Finally, New Street Research downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $35.31.

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.