Citigroup Inc. Raises Stake in Frontier Communications Parent, Inc. $FYBR

Citigroup Inc. boosted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413,041 shares of the company’s stock after purchasing an additional 27,162 shares during the quarter. Citigroup Inc. owned about 0.16% of Frontier Communications Parent worth $15,427,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Frontier Communications Parent in the 2nd quarter worth approximately $207,593,000. Balyasny Asset Management L.P. boosted its holdings in Frontier Communications Parent by 130.5% in the second quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company’s stock worth $165,708,000 after acquiring an additional 2,577,691 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Frontier Communications Parent by 52.9% in the second quarter. Qube Research & Technologies Ltd now owns 6,238,099 shares of the company’s stock worth $227,067,000 after acquiring an additional 2,157,594 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Frontier Communications Parent by 129.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company’s stock valued at $83,792,000 after acquiring an additional 1,316,597 shares in the last quarter. Finally, LMR Partners LLP raised its position in shares of Frontier Communications Parent by 79.7% in the 2nd quarter. LMR Partners LLP now owns 2,081,181 shares of the company’s stock worth $75,755,000 after purchasing an additional 923,056 shares during the last quarter.

Frontier Communications Parent Trading Up 0.1%

Shares of FYBR stock opened at $38.49 on Friday. Frontier Communications Parent, Inc. has a 12-month low of $35.31 and a 12-month high of $38.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.56. The firm’s 50 day moving average is $38.36 and its 200 day moving average is $37.83. The stock has a market capitalization of $9.64 billion, a P/E ratio of -25.32 and a beta of 0.94.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FYBR shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a research note on Monday, December 29th. Zacks Research upgraded shares of Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Frontier Communications Parent currently has an average rating of “Moderate Buy”.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.