Frontier Communications Parent (NASDAQ:FYBR) Sees Unusually-High Trading Volume – Here’s What Happened

Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares saw strong trading volume on Thursday . 2,216,606 shares traded hands during trading, a decline of 12% from the previous session’s volume of 2,524,551 shares.The stock last traded at $35.92 and had previously closed at $35.83.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FYBR shares. New Street Research cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Finally, Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.1 %

The business’s 50-day moving average price is $35.82 and its two-hundred day moving average price is $35.40. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of -27.82 and a beta of 1.04. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Equities analysts expect that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Frontier Communications Parent

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Frontier Communications Parent by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,277,017 shares of the company’s stock valued at $842,412,000 after buying an additional 303,545 shares during the period. Norges Bank purchased a new position in shares of Frontier Communications Parent in the 4th quarter valued at $191,247,000. Tudor Investment Corp ET AL acquired a new position in shares of Frontier Communications Parent during the 4th quarter valued at $114,555,000. Adage Capital Partners GP L.L.C. boosted its position in Frontier Communications Parent by 472.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company’s stock worth $109,295,000 after purchasing an additional 2,599,714 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Frontier Communications Parent by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,323,203 shares of the company’s stock valued at $80,615,000 after purchasing an additional 12,251 shares in the last quarter.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.