Frontier Communications Parent (NASDAQ:FYBR) Sees Strong Trading Volume

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw an uptick in trading volume on Wednesday . 198,746 shares were traded during mid-day trading, a decline of 85% from the previous session’s volume of 1,325,476 shares.The stock last traded at $33.00 and had previously closed at $32.86.

A number of brokerages have commented on FYBR. Benchmark increased their price objective on Frontier Communications Parent from $40.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, August 11th. The Goldman Sachs Group began coverage on Frontier Communications Parent in a research report on Tuesday, July 6th. They issued a “buy” rating and a $42.00 price objective on the stock. Cowen began coverage on Frontier Communications Parent in a research report on Wednesday, July 21st. They issued an “outperform” rating and a $37.00 price objective on the stock. Finally, Moffett Nathanson increased their price objective on Frontier Communications Parent from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 18th.

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.65. The company has a 50-day simple moving average of $29.91.

A number of hedge funds have recently bought and sold shares of FYBR. Camelot Portfolios LLC bought a new position in Frontier Communications Parent during the second quarter worth about $280,000. Siguler Guff Advisers LLC bought a new position in Frontier Communications Parent during the second quarter worth about $24,527,000. Beach Point Capital Management LP bought a new position in Frontier Communications Parent during the second quarter worth about $226,934,000. Sanders Morris Harris LLC bought a new position in Frontier Communications Parent during the second quarter worth about $2,452,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Frontier Communications Parent in the 2nd quarter valued at about $331,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About Frontier Communications Parent (NASDAQ:FYBR)

Frontier Communications Parent, Inc, together with its subsidiaries, provides various services to residential and business customers over its fiber-optic and copper networks in 25 states in the United States. It offers video, high-speed Internet, advanced voice, and Frontier Secure digital protection solutions.

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