Olympiad Research LP Acquires New Stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Olympiad Research LP acquired a new stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 28,777 shares of the company’s stock, valued at approximately $999,000. Frontier Communications Parent accounts for 1.0% of Olympiad Research LP’s holdings, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. ING Groep NV purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $2,040,000. Alberta Investment Management Corp purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $24,863,000. CIBC Asset Management Inc raised its holdings in shares of Frontier Communications Parent by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 7,567 shares of the company’s stock valued at $263,000 after buying an additional 377 shares during the period. Game Plan Financial Advisors LLC raised its holdings in shares of Frontier Communications Parent by 200.0% in the 4th quarter. Game Plan Financial Advisors LLC now owns 9,000 shares of the company’s stock valued at $313,000 after buying an additional 6,000 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Frontier Communications Parent by 1.0% in the 4th quarter. Rhumbline Advisers now owns 629,712 shares of the company’s stock valued at $21,851,000 after buying an additional 6,328 shares during the period.

Analysts Set New Price Targets

Several research firms recently issued reports on FYBR. Benchmark downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to 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 opened at $35.78 on Friday. Frontier Communications Parent, Inc. has a one year low of $20.51 and a one year high of $39.21. The company has a market cap of $8.91 billion, a P/E ratio of -27.74 and a beta of 1.05. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The business’s 50-day simple moving average is $35.38 and its 200-day simple moving average is $34.36.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, equities research analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

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.