New York State Teachers Retirement System Reduces Stock Position in Frontier Communications Parent, Inc. $FYBR

New York State Teachers Retirement System lowered its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,788 shares of the company’s stock after selling 2,455 shares during the period. New York State Teachers Retirement System owned 0.06% of Frontier Communications Parent worth $5,416,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Credit Industriel ET Commercial lifted its position in shares of Frontier Communications Parent by 62.9% during the second quarter. Credit Industriel ET Commercial now owns 355,460 shares of the company’s stock worth $12,939,000 after acquiring an additional 137,261 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Frontier Communications Parent by 10.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,396 shares of the company’s stock worth $997,000 after acquiring an additional 2,516 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Frontier Communications Parent by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 62,700 shares of the company’s stock worth $2,282,000 after acquiring an additional 600 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Frontier Communications Parent by 8.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 47,200 shares of the company’s stock valued at $1,718,000 after purchasing an additional 3,700 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in Frontier Communications Parent by 5.0% in the 2nd quarter. QRG Capital Management Inc. now owns 6,635 shares of the company’s stock valued at $242,000 after purchasing an additional 317 shares during the period.

Frontier Communications Parent Stock Up 0.1%

Shares of NASDAQ:FYBR opened at $37.57 on Tuesday. The firm has a fifty day moving average price of $37.26 and a two-hundred day moving average price of $36.70. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. Frontier Communications Parent, Inc. has a one year low of $33.72 and a one year high of $37.87. The company has a market cap of $9.40 billion, a price-to-earnings ratio of -24.24 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.49) earnings per share. Analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Frontier Communications Parent in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

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.