During the third quarter, Securian Asset Management Inc. acquired a new position in Frontier Communications Parent, Inc. (NASDAQ: FYBR), as stated in the most recent report that the company has filed with the Securities and Exchange Commission. The investment fund spent approximately $478.00 to purchase 20,403 shares of the company’s stock, bringing the total cost to approximately $478.00.
In the most recent few months, various other hedge funds have varying degrees modified the size of their positions in FYBR. During the second quarter, State Street Corporation was able to amass a 173.5% increase in the number of shares it owned in Frontier Communicationsarter, State Street Corporation was able to amass a 173.5% increase in several shares that it owned in Frontier Communications. State Street Corp. now owns 3,106,423 shares, which have a value of $73,1250,000 after making additional purchases of 1,970,568 shares during the period in question. These shares have a value of $73,125,000. During the first three months of the year, Capital International Investors saw a rise of 19.8% in the value of the shares it held in Frontier Communications. After making an additional purchase of 1,809,275 shares during the quarter, Capital International Investors now has a total of 10,953,760 shares of the company’s stock, collectively worth a total of $303,091,000. This brings the total number of shares owned by Capital International Investors to 10,953,760. Assenagon Asset Management S.A. acquired a new interest in Frontier Communications Parent during the second quarter for a total cost of approximately 42,550,000,000 Swiss Francs. The company fronted the money for this investment itself. A 3.1% increase in the proportion of Frontier Communications parent shares that Cerberus Capital Management L.P. owned as of the end of the second quarter was the result of that investment firm’s efforts. After making additional purchases of 675,265 shares throughout the time frame, Cerberus Capital Management L.P. now has 22,633,556 shares of the company’s stock. The total value of their existing stock holdings in the company comes to $532,794,000 at this time. During the second quarter, ExodusPoint Capital Management L.P. saw a 791.5 percent increase in the amount of Frontier Communications parent company shares it held in its portfolio. This brings us to the conclusion of our discussion. ExodusPoint Capital Management L.P. now has a total of 707,999 shares of the company’s stock, which are currently valued at $16,666,000, after purchasing an additional 628,586 shares during the period in question.
About the FYBR, several different research projects are currently being compiled. Moffett Nathanson lowered their price objective on shares of Frontier Communications Parent to $29.00 in a research note disseminated by the firm on September 29. Goldman Sachs Group gave Frontier Communications Parent a “buy” rating and reduced its price objective for the company from $40.00 to $32.00 in a research report published on Thursday, November 3. The report was made available to the public. The report’s primary focus was on Frontier Communications’ parents. Morgan Stanley upgraded their price target for Frontier Communications Parent from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report made public on Thursday, December 15. The investigation focused on Frontier Communications as its subject. Finally, Citigroup lowered their price target for Frontier Communications’ parent shares from $32.00 to $31.00 and rated the company as a “buy” in a research note published on Wednesday, November 9. This was the last item on the agenda. Only two of the market analysts polled have suggested that investors keep their existing security holdings, while seven suggested that investors purchase the stock. The information that can be found on Bloomberg.com indicates that the company is currently rated as a “Moderate Buy,” and the price goal that the majority of people have in mind for the company is $34.00.
On Friday, the first day of trading for FYBR, the price was $28.16. The company’s 50-day and 200-day simple moving averages are currently sitting at $24.92 and $24.84, respectively. The current and quick ratios correlate at 1.56, and the debt-to-equity ratio correlates at 1.85 with the quick ratio. Therefore, the current ratio and the quick ratio correlate at 1.56. The lowest price that Frontier Communications Parent, Inc. has traded at over the past year is $20.83, and the highest price it has traded at over the past year is $31.60. The company currently has a beta value of 0.78, an enterprise price-to-earnings ratio of 14.59, and a market value of $6.90 billion.
On November 2, the most recent quarterly earnings report that was made public for Frontier Communications Parent, Inc. (NASDAQ: FYBR) was made available to the public. The company announced earnings per share for the quarter of $0.49, which was $0.28 higher than the consensus estimate among analysts, who had predicted earnings per share of $0.21. The return on equity and the net margin for Frontier Communications Parent came in at 10%. Frontier Communications Parent’s net margin was 8.06%. The company’s revenue for the preceding three months came in at $1.44 billion, per the forecasts provided by experts in the relevant field. According to the forecasts provided by industry analysts, the current fiscal year should result in earnings of $1.42 for each share of Frontier Communications Parent, Inc. stock. These projections about the current financial year.
Frontier Communications Parent, Inc. and its subsidiaries provide a wide variety of communication services. They are available to consumers and businesses in 25 of the 50 states that make up the United States of America. In addition to providing voice and video services, as well as a variety of other services, it also offers data and Internet access. In April of 2021, the formerly known Frontier Communications Corporation changed its name to Frontier Communications Parent, Inc. after being in operation under that name up until that point.