Frontier Communications Parent Inc’s filing revealed that its 10% Owner ARES MANAGEMENT LLC unloaded Company’s shares for reported $395.25 million on Dec 10 ’24. In the deal valued at $34.37 per share,11,500,000 shares were sold. As a result of this transaction, ARES MANAGEMENT LLC now holds 23,922,768 shares worth roughly $832.03 million.
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Then, ARES MANAGEMENT LLC sold 11,500,000 shares, generating $395,255,000 in total proceeds. Upon selling the shares at $34.37, the 10% Owner now owns 23,922,768 shares.
Before that, ARES MANAGEMENT LLC sold 11,500,000 shares. Frontier Communications Parent Inc shares valued at $395,255,000 were divested by the 10% Owner at a price of $34.37 per share. As a result of the transaction, ARES MANAGEMENT LLC now holds 23,922,768 shares, worth roughly $832.03 million.
The Benchmark Company 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 Raymond James’s analysts, who decreased its forecast for the stock in late October from “a Strong buy” to “a Mkt perform”. TD Cowen also remained covering FYBR and has decreased its forecast on October 08, 2024 with a “Hold” recommendation from previously “Buy” rating. Wolfe Research revised its rating on September 30, 2024. It rated FYBR as “a Peer perform” which previously was an “an Outperform”.
Price Performance Review of FYBR
On Monday, Frontier Communications Parent Inc [NASDAQ:FYBR] saw its stock jump 0.38% to $34.78. Over the last five days, the stock has gained 0.06%. Frontier Communications Parent Inc shares have risen nearly 37.25% since the year began. Nevertheless, the stocks have risen 44.38% over the past one year. While a 52-week high of $39.21 was reached on 09/04/24, a 52-week low of $20.51 was recorded on 02/23/24. SMA at 50 days reached $35.05, while 200 days put it at $29.49.
Levels Of Support And Resistance For FYBR Stock
The 24-hour chart illustrates a support level at 34.69, which if violated will result in even more drops to 34.61. On the upside, there is a resistance level at 34.82. A further resistance level may holdings at 34.87. The Relative Strength Index (RSI) on the 14-day chart is 50.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.53%. Stochastics %K at 66.01% 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 2024-11-29, growing by 2.76 million shares to a total of 8.95 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 6.19 million shares. There was a rise of 30.85%, which implies that there is a positive sentiment for the stock.
