Frontier Communications Parent, Inc. $FYBR Shares Bought by ING Groep NV

ING Groep NV grew its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 324.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,400 shares of the company’s stock after purchasing an additional 180,000 shares during the quarter. ING Groep NV’s holdings in Frontier Communications Parent were worth $8,792,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in Frontier Communications Parent by 6.5% in the 3rd quarter. Rhumbline Advisers now owns 658,341 shares of the company’s stock valued at $24,589,000 after buying an additional 40,365 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Frontier Communications Parent in the third quarter worth $209,000. ProShare Advisors LLC lifted its position in shares of Frontier Communications Parent by 7.8% in the third quarter. ProShare Advisors LLC now owns 10,645 shares of the company’s stock valued at $398,000 after acquiring an additional 770 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Frontier Communications Parent by 56.5% during the third quarter. Smartleaf Asset Management LLC now owns 1,571 shares of the company’s stock valued at $59,000 after acquiring an additional 567 shares during the last quarter. Finally, Carlson Capital L.P. boosted its stake in shares of Frontier Communications Parent by 154.2% during the third quarter. Carlson Capital L.P. now owns 61,000 shares of the company’s stock valued at $2,278,000 after acquiring an additional 37,000 shares during the last quarter.

Frontier Communications Parent Trading Up 0.1%

Shares of FYBR stock opened at $38.49 on Thursday. Frontier Communications Parent, Inc. has a 1-year low of $35.31 and a 1-year high of $38.50. The firm’s 50-day simple moving average is $38.26 and its 200-day simple moving average is $37.68. The firm has a market cap of $9.64 billion, a P/E ratio of -25.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.30 and a quick ratio of 0.30.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FYBR shares. Zacks Research raised shares of Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. Weiss Ratings reissued 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Hold”.

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.