Mutual of America Capital Management LLC Cuts Position in Frontier Communications Parent, Inc. $FYBR

Mutual of America Capital Management LLC decreased its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,760 shares of the company’s stock after selling 3,305 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Frontier Communications Parent were worth $4,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in Frontier Communications Parent by 23.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company’s stock valued at $334,000 after purchasing an additional 1,755 shares during the period. Vanguard Group Inc. raised its position in Frontier Communications Parent by 0.3% in the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company’s stock valued at $873,364,000 after purchasing an additional 77,795 shares during the period. Tabor Asset Management LP purchased a new stake in Frontier Communications Parent in the first quarter valued at approximately $2,069,000. AQR Capital Management LLC raised its position in Frontier Communications Parent by 274.3% in the first quarter. AQR Capital Management LLC now owns 144,982 shares of the company’s stock valued at $5,199,000 after purchasing an additional 106,245 shares during the period. Finally, HighTower Advisors LLC acquired a new position in shares of Frontier Communications Parent in the first quarter worth $322,000.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $37.53 on Thursday. The company has a fifty day simple moving average of $37.28 and a two-hundred day simple moving average of $36.71. The company has a market cap of $9.39 billion, a price-to-earnings ratio of -24.21 and a beta of 0.94. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent, Inc. has a 52 week low of $33.72 and a 52 week high of $37.87.

Frontier Communications Parent (NASDAQ:FYBR) last posted 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 business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.49) EPS. As a group, equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Communications Parent in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Frontier Communications Parent currently has an average 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.