Rhumbline Advisers Increases Holdings in Frontier Communications Parent, Inc. $FYBR

Rhumbline Advisers increased its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,341 shares of the company’s stock after purchasing an additional 40,365 shares during the period. Rhumbline Advisers’ holdings in Frontier Communications Parent were worth $24,589,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 2nd quarter worth approximately $207,593,000. Balyasny Asset Management L.P. grew its position in Frontier Communications Parent by 130.5% during the second 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 raised its stake in shares of Frontier Communications Parent by 52.9% in 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 during the period. Goldman Sachs Group Inc. boosted its position in shares of Frontier Communications Parent by 129.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company’s stock worth $83,792,000 after buying an additional 1,316,597 shares during the period. Finally, LMR Partners LLP grew its position in Frontier Communications Parent by 79.7% in the second quarter. LMR Partners LLP now owns 2,081,181 shares of the company’s stock valued at $75,755,000 after acquiring an additional 923,056 shares in the last quarter.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $38.49 on Tuesday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $9.64 billion, a PE ratio of -25.32 and a beta of 0.94. Frontier Communications Parent, Inc. has a twelve month low of $35.31 and a twelve month high of $38.50. The firm’s 50 day moving average price is $38.29 and its 200 day moving average price is $37.73.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports 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 reissued a “sell (d)” rating on shares of Frontier Communications Parent in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Hold”.

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.