State of New Jersey Common Pension Fund D Acquires 13,285 Shares of Frontier Communications Parent, Inc. $FYBR

State of New Jersey Common Pension Fund D lifted its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 19.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,259 shares of the company’s stock after purchasing an additional 13,285 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Frontier Communications Parent were worth $2,998,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Affinity Wealth Management LLC increased its stake in Frontier Communications Parent by 3.7% in the 3rd quarter. Affinity Wealth Management LLC now owns 121,614 shares of the company’s stock valued at $4,542,000 after buying an additional 4,331 shares during the last quarter. Alpine Associates Management Inc. grew its holdings in shares of Frontier Communications Parent by 10.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,063,147 shares of the company’s stock valued at $77,059,000 after acquiring an additional 199,917 shares in the last quarter. ING Groep NV grew its holdings in shares of Frontier Communications Parent by 324.9% in the 3rd quarter. ING Groep NV now owns 235,400 shares of the company’s stock valued at $8,792,000 after acquiring an additional 180,000 shares in the last quarter. Rhumbline Advisers increased its position in shares of Frontier Communications Parent by 6.5% in the third quarter. Rhumbline Advisers now owns 658,341 shares of the company’s stock valued at $24,589,000 after acquiring an additional 40,365 shares during the last quarter. Finally, Profund Advisors LLC bought a new stake in Frontier Communications Parent during the third quarter worth about $209,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FYBR. Zacks Research upgraded 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 report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Frontier Communications Parent Trading Up 0.1%

Frontier Communications Parent stock opened at $38.49 on Friday. The stock has a 50-day simple moving average of $38.33 and a 200 day simple moving average of $37.76. The stock has a market capitalization 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 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 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.