Swiss National Bank Purchases 27,100 Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Swiss National Bank lifted its position in Frontier Communications Parent, Inc. (NASDAQ:FYBRGet Rating) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 460,500 shares of the company’s stock after purchasing an additional 27,100 shares during the quarter. Swiss National Bank owned 0.19% of Frontier Communications Parent worth $10,840,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FYBR. Capital International Investors grew its holdings in shares of Frontier Communications Parent by 19.8% in the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock worth $303,091,000 after purchasing an additional 1,809,275 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Frontier Communications Parent during the 2nd quarter worth about $42,550,000. Luxor Capital Group LP grew its holdings in Frontier Communications Parent by 239.3% during the 1st quarter. Luxor Capital Group LP now owns 2,067,488 shares of the company’s stock worth $57,207,000 after acquiring an additional 1,458,117 shares during the last quarter. Benefit Street Partners LLC bought a new stake in Frontier Communications Parent during the 2nd quarter worth about $13,034,000. Finally, Greenstone Partners & Co. LLC bought a new stake in Frontier Communications Parent during the 1st quarter worth about $12,100,000. Institutional investors own 95.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FYBR. Citigroup decreased their price objective on shares of Frontier Communications Parent from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Moffett Nathanson decreased their price objective on shares of Frontier Communications Parent to $29.00 in a report on Thursday, September 29th. The Goldman Sachs Group decreased their price objective on shares of Frontier Communications Parent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Morgan Stanley decreased their price objective on shares of Frontier Communications Parent from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, October 24th. Finally, TheStreet upgraded shares of Frontier Communications Parent from a “d+” rating to a “c-” rating in a research report on Wednesday, September 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.89.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $24.97 on Monday. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 12.94 and a beta of 0.75. The firm’s 50 day simple moving average is $23.37 and its 200 day simple moving average is $24.53. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.56 and a quick ratio of 1.56. Frontier Communications Parent, Inc. has a fifty-two week low of $20.83 and a fifty-two week high of $35.15.

About Frontier Communications Parent

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Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.

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

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