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

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) saw strong trading volume on Friday . 6,321,753 shares were traded during mid-day trading, an increase of 154% from the previous session's volume of 2,491,806 shares.The stock last traded at $35.85 and had previously closed at $35.95.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FYBR shares. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. Finally, New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $35.31.

Frontier Communications Parent Stock Performance

The firm's fifty day simple moving average is $35.78 and its 200 day simple moving average is $35.39. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of -27.72 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 - Get Free Report) 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). 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 analysts' expectations of $1.47 billion. On average, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current year.

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Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the transaction, the executive vice president now owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontier Communications Parent

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