Frontier Communications Parent Inc’s recent filing unveils 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 $1.38 billion.
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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 $1.38 billion.
TD Cowen downgraded its Frontier Communications Parent Inc [FYBR] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in late September from “an Outperform” to “a Peer perform”. JP Morgan also remained covering FYBR and has decreased its forecast on September 17, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. UBS started covering the stock on July 18, 2024. It rated FYBR as “a Buy”.
Price Performance Review of FYBR
On Tuesday, Frontier Communications Parent Inc [NASDAQ:FYBR] saw its stock jump 0.08% to $35.35. Over the last five days, the stock has lost -0.08%. Frontier Communications Parent Inc shares have risen nearly 39.50% since the year began. Nevertheless, the stocks have risen 131.96% over the past one year. While a 52-week high of $39.21 was reached on 09/04/24, a 52-week low of $14.97 was recorded on 02/23/24. SMA at 50 days reached $31.97, while 200 days put it at $26.48.
Levels Of Support And Resistance For FYBR Stock
The 24-hour chart illustrates a support level at 35.27, which if violated will result in even more drops to 35.18. On the upside, there is a resistance level at 35.47. A further resistance level may holdings at 35.58. The Relative Strength Index (RSI) on the 14-day chart is 59.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.63%. Stochastics %K at 23.68% indicates the stock is a holding.
How much short interest is there in Frontier Communications Parent Inc?
A steep rise in short interest was recorded in Frontier Communications Parent Inc stocks on 2024-09-13, dropping by -15.99 million shares to a total of 12.33 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 28.33 million shares. There was a decline of -129.67%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 01, 2024 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $29 price target.
