Virtu Financial LLC Takes $2.39 Million Position in Frontier Communications Corp (FTR)

Virtu Financial LLC acquired a new position in shares of Frontier Communications Corp (NASDAQ:FTR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 354,047 shares of the utilities provider’s stock, valued at approximately $2,393,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Frontier Communications during the 3rd quarter worth approximately $124,000. Engineers Gate Manager LP purchased a new stake in shares of Frontier Communications during the 3rd quarter worth approximately $138,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Frontier Communications during the 3rd quarter worth approximately $146,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Frontier Communications during the 3rd quarter worth approximately $174,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Frontier Communications during the 3rd quarter worth approximately $176,000. 67.30% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Tuesday, January 9th. BidaskClub lowered Frontier Communications from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Vetr upgraded Frontier Communications from a “buy” rating to a “strong-buy” rating and set a $9.22 price target on the stock in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lowered Frontier Communications from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $17.00 to $8.00 in a report on Wednesday, November 1st. Finally, Wells Fargo & Co restated a “market perform” rating and set a $9.00 price target (down previously from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. Frontier Communications presently has a consensus rating of “Hold” and an average target price of $9.49.

Frontier Communications Corp (FTR) opened at $9.22 on Monday. The company has a market capitalization of $723.38, a price-to-earnings ratio of -0.67 and a beta of 0.64. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70. Frontier Communications Corp has a 12-month low of $6.08 and a 12-month high of $51.30.

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Frontier Communications Profile

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

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Institutional Ownership by Quarter for Frontier Communications (NASDAQ:FTR)

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