Highbridge Capital Management LLC Buys 50,000 Shares of Frontier Communications Parent, Inc. $FYBR

Highbridge Capital Management LLC raised its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,008,301 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Frontier Communications Parent comprises about 1.7% of Highbridge Capital Management LLC’s portfolio, making the stock its 12th largest holding. Highbridge Capital Management LLC’s holdings in Frontier Communications Parent were worth $37,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Citigroup Inc. grew its holdings in shares of Frontier Communications Parent by 7.0% during the third quarter. Citigroup Inc. now owns 413,041 shares of the company’s stock worth $15,427,000 after purchasing an additional 27,162 shares during the last quarter. Alberta Investment Management Corp lifted its stake in Frontier Communications Parent by 34.5% in the third quarter. Alberta Investment Management Corp now owns 549,907 shares of the company’s stock valued at $20,539,000 after buying an additional 141,075 shares during the period. Fortis Group Advisors LLC acquired a new position in shares of Frontier Communications Parent during the 3rd quarter valued at $1,350,000. GSA Capital Partners LLP boosted its stake in Frontier Communications Parent by 61.9% during the third quarter. GSA Capital Partners LLP now owns 95,876 shares of the company’s stock worth $3,581,000 after acquiring an additional 36,666 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Frontier Communications Parent by 14.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 117,700 shares of the company’s stock valued at $4,396,000 after purchasing an additional 15,000 shares in the last quarter.

Analyst Upgrades and Downgrades

FYBR has been the topic of a number of recent research reports. Zacks Research upgraded Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a 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 equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Frontier Communications Parent Price Performance

Shares of Frontier Communications Parent stock opened at $38.49 on Friday. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of -25.32 and a beta of 0.94. The company has a fifty day moving average of $38.33 and a 200-day moving average of $37.77. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. Frontier Communications Parent, Inc. has a 52-week low of $35.31 and a 52-week high of $38.50.

Frontier Communications Parent 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.