New York Life Investment Management LLC Invests $9.15 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

New York Life Investment Management LLC bought a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 263,628 shares of the company's stock, valued at approximately $9,148,000. New York Life Investment Management LLC owned approximately 0.11% of Frontier Communications Parent as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FYBR. Oregon Public Employees Retirement Fund increased its holdings in Frontier Communications Parent by 0.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock valued at $1,565,000 after buying an additional 344 shares during the last quarter. Olympiad Research LP bought a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $999,000. ING Groep NV acquired a new stake in shares of Frontier Communications Parent during the 4th quarter valued at approximately $2,040,000. Alberta Investment Management Corp acquired a new stake in shares of Frontier Communications Parent during the 4th quarter valued at approximately $24,863,000. Finally, CIBC Asset Management Inc lifted its stake in Frontier Communications Parent by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 7,567 shares of the company's stock worth $263,000 after purchasing an additional 377 shares during the last quarter.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock traded up $0.01 during mid-day trading on Monday, hitting $36.00. 1,877,302 shares of the company's stock traded hands, compared to its average volume of 2,440,660. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a one year low of $21.31 and a one year high of $39.21. The firm has a 50 day moving average price of $35.49 and a 200 day moving average price of $34.69. The company has a market cap of $8.99 billion, a PE ratio of -27.91 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced 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). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. On average, equities analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on FYBR. Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. New Street Research downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.