Frontier Communications Parent (NASDAQ:FYBR) Sees Strong Trading Volume - Time to Buy?

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) saw strong trading volume on Wednesday . 4,578,713 shares were traded during mid-day trading, an increase of 64% from the previous session's volume of 2,794,363 shares.The stock last traded at $36.54 and had previously closed at $36.61.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. New Street Research cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, Raymond James cut Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $36.07.

Frontier Communications Parent Stock Performance

The firm has a market capitalization of $9.06 billion, a P/E ratio of -28.07 and a beta of 1.01. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The company has a 50-day moving average of $36.22 and a 200-day moving average of $35.64.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.07. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Frontier Communications Parent's quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Transactions at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This trade represents a 31.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of Frontier Communications Parent

Several large investors have recently made changes to their positions in FYBR. Geneos Wealth Management Inc. grew its stake in shares of Frontier Communications Parent by 957.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 772 shares of the company's stock valued at $28,000 after buying an additional 699 shares during the period. Brooklyn Investment Group grew its stake in shares of Frontier Communications Parent by 46.1% in the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after buying an additional 359 shares during the period. Parallel Advisors LLC grew its stake in shares of Frontier Communications Parent by 360.7% in the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock valued at $70,000 after buying an additional 1,533 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in shares of Frontier Communications Parent in the 1st quarter valued at about $74,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at about $76,000.

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.