DekaBank Deutsche Girozentrale has reduced its investment in Frontier Communications Parent, Inc. (NASDAQ: FYBR) by 11.9% during the second quarter of 2023, according to HoldingsChannel.com. The institutional investor now holds 92,500 shares of the company, having sold 12,500 shares in this period. The current value of DekaBank’s holdings stands at approximately $3.37 million.
Several other institutional investors have also adjusted their positions in Frontier Communications. Notably, Geneos Wealth Management Inc. significantly increased its stake by 957.5% in the first quarter, acquiring an additional 699 shares for a total of 772 shares, valued at $28,000. Similarly, Brooklyn Investment Group raised its holdings by 46.1%, now owning 1,137 shares worth $41,000 after purchasing 359 additional shares.
Longfellow Investment Management Co. LLC established a new position in the company in the first quarter, valued at $74,000. During the same period, GAMMA Investing LLC increased its holdings by 29.7%, bringing its total to 3,921 shares worth $143,000. CWM LLC also raised its stake by 101.9%, now holding 5,402 shares valued at $194,000.
Current Performance of Frontier Communications
As of the latest trading session, shares of Frontier Communications opened at $37.54. The company maintains a current ratio of 0.36 and a quick ratio also at 0.36, with a debt-to-equity ratio of 2.49. Over the past year, Frontier’s stock has fluctuated, reaching a low of $33.72 and a high of $37.87. The stock currently has a market capitalization of $9.40 billion and a price-to-earnings (P/E) ratio of -24.22, alongside a beta of 0.94. Its 50-day moving average price stands at $37.30, while the 200-day moving average is at $36.75.
Analyst Ratings and Company Overview
In a recent evaluation, Weiss Ratings reiterated a “sell (D-)” rating for Frontier Communications shares. Currently, two analysts have assigned a Hold rating, while another two have issued a Sell rating. According to MarketBeat, the consensus rating for the stock is “Reduce.”
Frontier Communications Parent, Inc., along with its subsidiaries, provides a range of communication and technology services across the United States. Its offerings include broadband, video, voice, and various value-added services. The company also supplies data and Internet services, including broadband networking, voice-over-internet protocol, unified communications, long-distance, and voice messaging services. Additionally, it markets video services under the Frontier TV brand and provides hardware and network solutions.
Investors and analysts continue to watch the movements within Frontier Communications closely, particularly as institutional investment shifts may indicate broader market trends. For the latest updates on Frontier Communications and related companies, interested parties can visit HoldingsChannel.com for detailed reports and insider trading information.
