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 Monday . 1,166,526 shares traded hands during trading, a decline of 45% from the previous session’s volume of 2,106,084 shares.The stock last traded at $35.63 and had previously closed at $36.14.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FYBR shares. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Benchmark reissued a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research report on Thursday, September 5th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. downgraded Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Price Performance

The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day simple moving average is $34.85 and its 200 day simple moving average is $29.29. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of -94.46 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $0.05 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Research analysts predict that Frontier Communications Parent, Inc. will post -0.79 EPS for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Frontier Communications Parent by 18.9% in the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after buying an additional 444 shares during the last quarter. Jag Capital Management LLC increased its holdings in shares of Frontier Communications Parent by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 9,010 shares of the company’s stock valued at $320,000 after acquiring an additional 445 shares during the last quarter. Game Plan Financial Advisors LLC raised its position in shares of Frontier Communications Parent by 23.8% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock worth $1,173,000 after purchasing an additional 585 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Frontier Communications Parent by 8.4% in the third quarter. US Bancorp DE now owns 7,750 shares of the company’s stock worth $275,000 after purchasing an additional 598 shares during the period.

Frontier Communications Parent Company Profile

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.