Marble Arch Investments LP lessened its holdings in Frontier Communications Corp (NASDAQ:FTR) by 33.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,600 shares of the utilities provider’s stock after selling 115,400 shares during the quarter. Frontier Communications makes up approximately 0.1% of Marble Arch Investments LP’s holdings, making the stock its 21st biggest holding. Marble Arch Investments LP owned about 0.30% of Frontier Communications worth $1,586,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. bought a new position in Frontier Communications during the 3rd quarter worth approximately $146,000. Stevens Capital Management LP bought a new position in Frontier Communications during the 3rd quarter worth approximately $844,000. Quantbot Technologies LP bought a new position in Frontier Communications during the 3rd quarter worth approximately $124,000. SG Americas Securities LLC boosted its stake in Frontier Communications by 109.9% during the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock worth $381,000 after acquiring an additional 357,493 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Frontier Communications during the 3rd quarter worth approximately $174,000. 71.04% of the stock is currently owned by institutional investors.
Shares of Frontier Communications Corp (NASDAQ FTR) opened at $7.80 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 7.46. Frontier Communications Corp has a fifty-two week low of $6.08 and a fifty-two week high of $38.40. The stock has a market cap of $614.33, a P/E ratio of -0.21 and a beta of 0.76.
Several analysts have commented on the stock. Vetr upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $9.22 target price on the stock in a report on Wednesday, February 21st. Zacks Investment Research upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Tuesday, January 9th. BidaskClub downgraded shares of Frontier Communications from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Barclays assumed coverage on shares of Frontier Communications in a report on Friday, December 15th. They set an “underweight” rating and a $7.00 target price on the stock. Finally, Jefferies Group downgraded shares of Frontier Communications from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.27.
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Frontier Communications Company Profile
Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).
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