Frontier Communications Parent, Inc. $FYBR Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 811,768 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Picton Mahoney Asset Management’s holdings in Frontier Communications Parent were worth $30,320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Frontier Communications Parent during the 2nd quarter worth approximately $207,593,000. Balyasny Asset Management L.P. lifted its holdings in shares of Frontier Communications Parent by 130.5% during the second quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company’s stock worth $165,708,000 after purchasing an additional 2,577,691 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Frontier Communications Parent by 52.9% during the second quarter. Qube Research & Technologies Ltd now owns 6,238,099 shares of the company’s stock worth $227,067,000 after purchasing an additional 2,157,594 shares during the period. Goldman Sachs Group Inc. grew its position in Frontier Communications Parent by 129.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company’s stock valued at $83,792,000 after buying an additional 1,316,597 shares during the last quarter. Finally, LMR Partners LLP increased its stake in Frontier Communications Parent by 79.7% in the 2nd quarter. LMR Partners LLP now owns 2,081,181 shares of the company’s stock valued at $75,755,000 after buying an additional 923,056 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FYBR. Zacks Research upgraded 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 report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Frontier Communications Parent presently has an average rating of “Moderate Buy”.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $38.49 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.56. Frontier Communications Parent, Inc. has a 52-week low of $35.31 and a 52-week high of $38.50. The company has a 50-day simple moving average of $38.38 and a 200-day simple moving average of $37.86. The company has a market capitalization of $9.64 billion, a PE ratio of -25.32 and a beta of 0.94.

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.