Magnolia Group LLC Acquires 36,000 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Magnolia Group LLC grew its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,476,931 shares of the company’s stock after purchasing an additional 36,000 shares during the quarter. Frontier Communications Parent comprises about 16.7% of Magnolia Group LLC’s investment portfolio, making the stock its 2nd largest position. Magnolia Group LLC’s holdings in Frontier Communications Parent were worth $113,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its holdings in shares of Frontier Communications Parent by 1.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 43,797 shares of the company’s stock worth $1,110,000 after acquiring an additional 441 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Frontier Communications Parent by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 277,021 shares of the company’s stock worth $7,020,000 after acquiring an additional 849 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth about $31,000. Duality Advisers LP increased its holdings in shares of Frontier Communications Parent by 66.2% in the fourth quarter. Duality Advisers LP now owns 60,450 shares of the company’s stock worth $1,532,000 after acquiring an additional 24,068 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Frontier Communications Parent by 14.8% in the fourth quarter. Handelsbanken Fonder AB now owns 42,000 shares of the company’s stock worth $1,064,000 after acquiring an additional 5,400 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR traded down $0.46 during mid-day trading on Tuesday, hitting $23.14. 1,068,618 shares of the stock traded hands, compared to its average volume of 1,651,687. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. Frontier Communications Parent, Inc. has a twelve month low of $11.65 and a twelve month high of $25.89. The company has a market cap of $5.75 billion, a PE ratio of 192.83 and a beta of 1.05. The firm has a 50 day simple moving average of $23.48 and a two-hundred day simple moving average of $22.57.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

FYBR has been the subject of several recent research reports. Bank of America assumed coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup raised Frontier Communications Parent from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $30.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.43.

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.