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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares saw an uptick in trading volume on Friday . 6,321,753 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FYBR. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Raymond James downgraded shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Finally, Benchmark reiterated a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Trading Down 0.4 %

The firm’s 50-day simple moving average is $35.78 and its 200 day simple moving average is $35.41. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of -27.74 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 announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates 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 news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the transaction, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Frontier Communications Parent

Several institutional investors have recently modified their holdings of FYBR. Norges Bank bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth $191,247,000. Tudor Investment Corp ET AL bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth $114,555,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Frontier Communications Parent by 472.7% in the fourth 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 last quarter. Sona Asset Management US LLC bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth $51,179,000. Finally, FIL Ltd bought a new stake in shares of Frontier Communications Parent in the fourth quarter worth $49,228,000.

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.