Frontier Communications Parent Inc’s filing revealed that its 10% Owner ARES MANAGEMENT LLC acquired Company’s shares for reported $2.84 million on Oct 18 ’23. In the deal valued at $18.93 per share,150,000 shares were bought. As a result of this transaction, ARES MANAGEMENT LLC now holds 38,912,895 shares worth roughly $928.85 million.
Then, ARES MANAGEMENT LLC bought 150,000 shares, generating $2,838,930 in total proceeds. Upon buying the shares at $18.93, the 10% Owner now owns 38,912,895 shares.
Before that, ARES MANAGEMENT LLC bought 150,000 shares. Frontier Communications Parent Inc shares valued at $2,838,930 were divested by the 10% Owner at a price of $18.93 per share. As a result of the transaction, ARES MANAGEMENT LLC now holds 38,912,895 shares, worth roughly $928.85 million.
BofA Securities initiated its Frontier Communications Parent Inc [FYBR] rating to a Buy in a research note published on April 09, 2024; the price target was $30. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid July from “a Buy” to “a Neutral”. Wolfe Research began covering FYBR with “an Outperform” recommendation on June 27, 2023. Morgan Stanley revised its rating on March 27, 2023. It rated FYBR as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of FYBR
On Friday, Frontier Communications Parent Inc [NASDAQ:FYBR] saw its stock fall -2.17% to $23.87. Over the last five days, the stock has gained 4.97%. Frontier Communications Parent Inc shares have fallen nearly -5.80% since the year began. Nevertheless, the stocks have risen 8.75% over the past one year. While a 52-week high of $25.89 was reached on 01/02/24, a 52-week low of $11.65 was recorded on 02/23/24. SMA at 50 days reached $23.55, while 200 days put it at $20.14. A total of 0.91 million shares were traded, compared to the trading of 0.92 million shares in the previous session.
Levels Of Support And Resistance For FYBR Stock
The 24-hour chart illustrates a support level at 23.69, which if violated will result in even more drops to 23.52. On the upside, there is a resistance level at 24.17. A further resistance level may holdings at 24.48. The Relative Strength Index (RSI) on the 14-day chart is 50.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.18%. Stochastics %K at 59.39% indicates the stock is a holding.
