Credit Industriel ET Commercial Lowers Stake in Frontier Communications Parent, Inc. $FYBR

Credit Industriel ET Commercial trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 48.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,666 shares of the company’s stock after selling 170,794 shares during the quarter. Frontier Communications Parent accounts for approximately 0.6% of Credit Industriel ET Commercial’s portfolio, making the stock its 23rd largest holding. Credit Industriel ET Commercial owned about 0.07% of Frontier Communications Parent worth $6,897,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research raised Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Frontier Communications Parent in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Frontier Communications Parent Stock Up 0.1%

Shares of NASDAQ:FYBR opened at $38.49 on Monday. The firm has a market cap of $9.64 billion, a PE ratio of -25.32 and a beta of 0.94. The company has a fifty day simple moving average of $38.28 and a 200 day simple moving average of $37.71. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.56. Frontier Communications Parent, Inc. has a 12-month low of $35.31 and a 12-month high of $38.50.

About Frontier Communications Parent

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.