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

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 2,216,606 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FYBR. New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Benchmark reaffirmed a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Finally, 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Frontier Communications Parent has a consensus rating of "Hold" and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.1 %

The company has a market capitalization of $8.95 billion, a P/E ratio of -27.80 and a beta of 1.04. The business has a fifty day moving average of $35.82 and a 200-day moving average of $35.40. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

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

Insider Activity

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Cerity Partners LLC bought a new position in shares of Frontier Communications Parent during the 3rd quarter worth approximately $440,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Frontier Communications Parent by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 565,310 shares of the company's stock worth $20,085,000 after acquiring an additional 6,800 shares during the period. Captrust Financial Advisors grew its stake in Frontier Communications Parent by 6.5% in the 3rd quarter. Captrust Financial Advisors now owns 9,540 shares of the company's stock valued at $339,000 after purchasing an additional 581 shares during the period. Harbor Advisors LLC bought a new position in Frontier Communications Parent in the 3rd quarter valued at $533,000. Finally, Harvest Management LLC purchased a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at $1,126,000.

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.