Citigroup Inc. Purchases 27,162 Shares of Frontier Communications Parent, Inc. $FYBR

Citigroup Inc. grew its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 413,041 shares of the company’s stock after purchasing an additional 27,162 shares during the quarter. Citigroup Inc.’s holdings in Frontier Communications Parent were worth $15,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in Frontier Communications Parent during the second quarter valued at approximately $207,593,000. Balyasny Asset Management L.P. raised its position 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 during the period. Qube Research & Technologies Ltd boosted its stake 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 worth $227,067,000 after acquiring an additional 2,157,594 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 valued at $83,792,000 after acquiring an additional 1,316,597 shares during the period. Finally, LMR Partners LLP increased its stake 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 in the last quarter.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $38.49 on Friday. The stock has a 50-day moving average price of $38.36 and a 200 day moving average price of $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. 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.

Wall Street Analyst Weigh In

FYBR has been the subject of several recent research reports. Zacks Research raised 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 and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus 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.