Mackenzie Financial Corp Grows Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mackenzie Financial Corp increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 62.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583,940 shares of the company’s stock after purchasing an additional 225,293 shares during the period. Mackenzie Financial Corp owned approximately 0.24% of Frontier Communications Parent worth $14,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FYBR. JANA Partners Management LP purchased a new position in shares of Frontier Communications Parent during the 3rd quarter valued at about $129,569,000. State Street Corp raised its position in Frontier Communications Parent by 97.5% during the third quarter. State Street Corp now owns 6,134,736 shares of the company’s stock valued at $143,737,000 after acquiring an additional 3,028,313 shares in the last quarter. Norges Bank purchased a new position in Frontier Communications Parent during the fourth quarter valued at approximately $54,468,000. Capital International Investors lifted its holdings in Frontier Communications Parent by 19.8% in the first quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock valued at $303,091,000 after acquiring an additional 1,809,275 shares during the period. Finally, Glendon Capital Management LP boosted its position in Frontier Communications Parent by 6.2% in the 3rd quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock worth $378,979,000 after purchasing an additional 1,417,609 shares in the last quarter.

Analysts Set New Price Targets

FYBR has been the subject of several recent research reports. Bank of America assumed coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price for the company. Citigroup upgraded shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $30.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.43.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR opened at $22.57 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a fifty day moving average of $23.46 and a 200 day moving average of $22.12. The firm has a market cap of $5.61 billion, a PE ratio of 188.08 and a beta of 1.05. Frontier Communications Parent, Inc. has a one year low of $11.65 and a one year high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Friday, February 23rd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. As a group, research analysts predict that Frontier Communications Parent, Inc. will post -0.44 EPS for the current fiscal year.

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.