New York State Teachers Retirement System Sells 1,000 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

New York State Teachers Retirement System trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,988 shares of the company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of Frontier Communications Parent worth $5,294,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Frontier Communications Parent during the 2nd quarter valued at approximately $37,000. Blue Trust Inc. boosted its position in shares of Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 shares during the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC increased its position in Frontier Communications Parent by 18.9% in the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after purchasing an additional 444 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Frontier Communications Parent by 140.9% during the first quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock valued at $103,000 after purchasing an additional 2,461 shares in the last quarter.

Wall Street Analyst Weigh In

FYBR has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. The Goldman Sachs Group raised their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Finally, Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Performance

FYBR stock opened at $34.95 on Wednesday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of -94.46 and a beta of 1.10. Frontier Communications Parent, Inc. has a twelve month low of $18.43 and a twelve month high of $39.21. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. The business’s fifty day simple moving average is $34.85 and its two-hundred day simple moving average is $29.29.

About Frontier Communications Parent

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.