Skandinaviska Enskilda Banken AB publ Buys 15,000 Shares of Frontier Communications Parent, Inc. $FYBR

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,700 shares of the company’s stock after acquiring an additional 15,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Frontier Communications Parent were worth $4,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Frontier Communications Parent by 1.8% in the third quarter. Vanguard Group Inc. now owns 24,561,203 shares of the company’s stock valued at $917,361,000 after purchasing an additional 442,337 shares during the period. Qube Research & Technologies Ltd raised its position in 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 valued at $227,067,000 after purchasing an additional 2,157,594 shares in the last quarter. Norges Bank bought a new stake in Frontier Communications Parent during the 2nd quarter valued at $207,593,000. Balyasny Asset Management L.P. lifted its holdings in shares of Frontier Communications Parent by 130.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company’s stock worth $165,708,000 after buying an additional 2,577,691 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Frontier Communications Parent by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,364,189 shares of the company’s stock worth $86,056,000 after buying an additional 43,562 shares in the last quarter.

Frontier Communications Parent Stock Performance

FYBR stock opened at $38.49 on Friday. Frontier Communications Parent, Inc. has a one year low of $35.31 and a one year high of $38.50. The firm has a market cap of $9.64 billion, a price-to-earnings 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. The firm has a 50-day simple moving average of $38.33 and a two-hundred day simple moving average of $37.76.

Analyst Upgrades and Downgrades

Several brokerages have recently commented 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 reiterated 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, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent presently has an average 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.