Frontier Communications Parent, Inc. (NASDAQ:FYBR) Sees Significant Increase in Short Interest

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 8,950,000 shares, an increase of 5.4% from the November 15th total of 8,490,000 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average trading volume of 3,170,000 shares, the days-to-cover ratio is currently 2.8 days.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $34.83 on Wednesday. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of -46.44 and a beta of 1.05. The company’s fifty day moving average is $35.09 and its 200-day moving average is $31.39. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent has a 12 month low of $20.51 and a 12 month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts expect that Frontier Communications Parent will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.31.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Frontier Communications Parent

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Frontier Communications Parent by 117.1% in the 2nd quarter. SG Americas Securities LLC now owns 14,745 shares of the company’s stock worth $386,000 after purchasing an additional 7,952 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 shares during the period. Raymond James & Associates raised its stake in Frontier Communications Parent by 7.0% in the second quarter. Raymond James & Associates now owns 56,833 shares of the company’s stock valued at $1,488,000 after purchasing an additional 3,728 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Frontier Communications Parent in the second quarter valued at about $185,000. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after purchasing an additional 585 shares in the last quarter.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.