331 hedge funds sold their entire positions in Frontier Communications Corporation (FTR)

Frontier Communications Corporation (NASDAQ:FTR) went up to recover about 26.4% since recording its record low price of $6.25. The stock experienced 11.58% jump, arriving at $7.9 on 11/22/2017. During the day, the stock price traveled from $7.08 to $7.975. This company shares are 88.86% off its target price of $14.92 and the current market capitalization stands at $593.05M. The recent change has given its price a -26.12% deficit over SMA 50 and -86.21% deficit over its 52-week high. The stock witnessed -30.15% declines, -37.8% declines and -61.27% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found FTR’s volatility during a week at 7.75% and during a month it has been found around 8.96%.

Frontier Communications Corporation (FTR) Top Holders

Institutional investors currently hold around $376 million or 68.3% in FTR stock. Look at its top three institutional owners. Blackrock Inc. owns $71.16 million in Frontier Communications Corporation, which represents roughly 12% of the company’s market cap and approximately 18.93% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 8,385,729 shares of the stock are valued at $59.37 million. The third largest holder is State Street Corp, which currently holds $20.23 million worth of this stock and that ownership represents nearly 3.41% of its market capitalization.

Frontier Communications Corporation 13F Filings

At the end of September reporting period, 124 institutional holders increased their position in Frontier Communications Corporation (NASDAQ:FTR) by some 6,800,813 shares, 331 decreased positions by 673,786,165 and 16 held positions by -627,474,957. That puts total institutional holdings at 53,112,021 shares, according to SEC filings. The stock grabbed 86 new institutional investments totaling 2,349,236 shares while 144 institutional investors sold out their entire positions totaling 11,636,398 shares.

Frontier Communications Corporation (NASDAQ:FTR) Insider Trades

Multiple company employees have indulged in significant insider trading. Frontier Communications Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that EVP, Commercial Sales Arndt Kenneth has acquired 867 shares of Frontier Communications Corporation (FTR) in trading session dated May. 25, 2017. These shares are worth $17,947 and were traded at $20.7 each. The SEC filing shows that Weslock Kathleen performed a purchase of 3,333 shares. The EVP, Chief People Officer added these shares by way of transaction on May. 16, 2017. The company’s shares were assimilated at $19.8 per share worth to an investment of some $65,993 on account of Weslock Kathleen.

EVP, Field Operations, Lass John, purchased 533 common shares of Frontier Communications Corporation (FTR) in the open market. In a transaction dated May. 16, 2017, the shares were bought at an average price of $20.25, giving away a sum of $10,793. After this purchase, 41,888 common shares of FTR are directly owned by the insider, with total stake valued at $330,915.

In the transaction dated May. 15, 2017, the great number of shares acquired came courtesy the EVP, Chief Technology Officer; Gable Steve added a total of 667 shares at an average price of $19.5, amounting to approximately $13,007. The insider now directly owns 29,330 shares worth $231,707.

Frontier Communications Corporation (FTR) Analyst Guide

Several analysts have released their opinion on Frontier Communications Corporation (NASDAQ:FTR), with 1 analysts believing it is a strong buy. Whereas 9 of them predict the stock is a hold. Also, there are 1 buy, 1 sell and 2 strong sell ratings, collectively assigning a 3.14 average brokerage recommendation.

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