Clearfield Capital Management LP Invests $2.31 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Clearfield Capital Management LP purchased a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBRFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 91,000 shares of the company’s stock, valued at approximately $2,306,000. Frontier Communications Parent makes up 2.0% of Clearfield Capital Management LP’s holdings, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in Frontier Communications Parent by 62.8% in the 4th quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock valued at $14,797,000 after acquiring an additional 225,293 shares during the last quarter. CI Investments Inc. boosted its position in shares of Frontier Communications Parent by 48.3% during the 3rd quarter. CI Investments Inc. now owns 385,383 shares of the company’s stock valued at $6,031,000 after acquiring an additional 125,525 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Frontier Communications Parent by 0.5% in the third quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock valued at $372,906,000 after purchasing an additional 118,939 shares in the last quarter. Tudor Investment Corp Et Al increased its position in Frontier Communications Parent by 63.4% in the third quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after purchasing an additional 140,943 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Frontier Communications Parent by 83.9% during the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock valued at $24,180,000 after purchasing an additional 704,857 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen decreased their target price on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Citigroup boosted their price objective on shares of Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Bank of America started coverage on shares of Frontier Communications Parent in a research note on Tuesday, April 9th. They set a “buy” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Communications Parent has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Get Our Latest Stock Report on Frontier Communications Parent

Frontier Communications Parent Stock Up 1.3 %

Shares of FYBR traded up $0.33 during mid-day trading on Wednesday, hitting $25.62. The company’s stock had a trading volume of 1,179,454 shares, compared to its average volume of 1,556,885. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.14. The company’s 50-day moving average is $24.87 and its 200-day moving average is $24.05. Frontier Communications Parent, Inc. has a 52-week low of $11.65 and a 52-week high of $27.41. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 232.91 and a beta of 1.10.

About Frontier Communications Parent

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Frontier Communications Parent (NASDAQ:FYBR)

Receive News & Ratings for Frontier Communications Parent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Parent and related companies with MarketBeat.com's FREE daily email newsletter.