KLP Kapitalforvaltning AS Increases Holdings in Frontier Communications Parent, Inc. $FYBR

KLP Kapitalforvaltning AS grew its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,200 shares of the company’s stock after acquiring an additional 3,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Frontier Communications Parent were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. QRG Capital Management Inc. lifted its position in shares of Frontier Communications Parent by 5.0% in the second quarter. QRG Capital Management Inc. now owns 6,635 shares of the company’s stock valued at $242,000 after acquiring an additional 317 shares in the last quarter. Affinity Wealth Management LLC boosted its position in shares of Frontier Communications Parent by 1.8% during the second quarter. Affinity Wealth Management LLC now owns 117,283 shares of the company’s stock worth $4,269,000 after acquiring an additional 2,123 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Frontier Communications Parent by 29.7% during the second quarter. GAMMA Investing LLC now owns 3,921 shares of the company’s stock worth $143,000 after acquiring an additional 898 shares during the last quarter. NBC Securities Inc. boosted its position in shares of Frontier Communications Parent by 2.3% during the second quarter. NBC Securities Inc. now owns 35,710 shares of the company’s stock worth $1,299,000 after acquiring an additional 812 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Frontier Communications Parent by 2.8% during the first quarter. Voya Investment Management LLC now owns 30,651 shares of the company’s stock worth $1,099,000 after acquiring an additional 834 shares during the last quarter.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $37.32 on Monday. Frontier Communications Parent, Inc. has a fifty-two week low of $33.72 and a fifty-two week high of $37.87. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a fifty day moving average price of $37.15 and a 200 day moving average price of $36.64. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of -24.08 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business earned ($0.49) EPS. Frontier Communications Parent’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.