Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase – Still a Buy?

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw unusually-strong trading volume on Friday . Approximately 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 Ratings Changes

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

Frontier Communications Parent Stock Down 0.5 %

The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of -27.73 and a beta of 1.04. The firm’s fifty day moving average is $35.77 and its 200-day moving average is $35.31.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results 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). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. On average, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 36,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at approximately $2,755,593.23. This represents a 31.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Frontier Communications Parent

A number of institutional investors and hedge funds have recently modified their holdings of FYBR. California State Teachers Retirement System boosted its holdings in shares of Frontier Communications Parent by 3.6% in the 4th quarter. California State Teachers Retirement System now owns 189,823 shares of the company’s stock valued at $6,587,000 after buying an additional 6,639 shares during the period. CIBRA Capital Ltd acquired a new position in Frontier Communications Parent in the fourth quarter valued at approximately $12,021,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Frontier Communications Parent by 20.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,547 shares of the company’s stock valued at $262,000 after purchasing an additional 1,303 shares during the last quarter. Tiptree Advisors LLC bought a new position in shares of Frontier Communications Parent during the fourth quarter valued at approximately $2,776,000. Finally, Neo Ivy Capital Management raised its position in shares of Frontier Communications Parent by 88.4% during the 4th quarter. Neo Ivy Capital Management now owns 12,693 shares of the company’s stock worth $440,000 after purchasing an additional 5,957 shares during the period.

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.