The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Frontier Communications Parent Inc shares valued at $22,830,258 were sold by ARES MANAGEMENT LLC on Dec 03 ’24. At $34.59 per share, ARES MANAGEMENT LLC sold 660,000 shares. The insider’s holdings dropped to 36,167,768 shares worth approximately $1.25 billion following the completion of this transaction.
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Also, ARES MANAGEMENT LLC sold 170,000 shares, netting a total of over 5,868,230 in proceeds. Following the sale of shares at $34.52 each, the insider now holds 35,997,768 shares.
Before that, ARES MANAGEMENT LLC had sold 660,000 shares from its account. In a trade valued at $22,830,258, the 10% Owner traded Frontier Communications Parent Inc shares for $34.59 each. Upon closing the transaction, the insider’s holdings decreased to 660,000 shares, worth approximately $1.25 billion.
As published in a research note from Raymond James on October 28, 2024, Frontier Communications Parent Inc [FYBR] has been rated down from a Strong buy to a Mkt perform. Analysts at TD Cowen downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early October. As of September 30, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for FYBR. Earlier on September 17, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for FYBR stock which previously was a “an Overweight”.
Analyzing FYBR Stock Performance
During the last five days, there has been a drop of approximately -0.75%. Over the course of the year, Frontier Communications Parent Inc shares have jumped approximately 36.23%. Shares of the company reached a 52-week high of $39.21 on 09/04/24 and a 52-week low of $20.51 on 02/23/24. A 50-day SMA is recorded $35.23, while a 200-day SMA reached $28.83. Nevertheless, trading volume fell to 2.91 million shares from 1.11 million shares the previous day.
Support And Resistance Levels for Frontier Communications Parent Inc (FYBR)
According to the 24-hour chart, there is a support level at 34.40, which, if violated, would cause prices to drop to 34.28. In the upper region, resistance lies at 34.63. The next price resistance is at 34.74. RSI (Relative Strength Index) is 41.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 77.19%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
