Frontier Communications Parent, Inc. (NASDAQ:FYBR) Short Interest Up 5.4% in November

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

Insider Buying and Selling

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Frontier Communications Parent

Several hedge funds have recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the 2nd quarter valued at about $37,000. Capital Performance Advisors LLP purchased a new stake in Frontier Communications Parent in the third quarter worth approximately $50,000. Meeder Asset Management Inc. bought a new stake in Frontier Communications Parent in the 3rd quarter worth approximately $52,000. Farther Finance Advisors LLC raised its stake in Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after buying an additional 811 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after buying an additional 2,244 shares during the period.

Analysts Set New Price Targets

FYBR has been the subject of a number of analyst reports. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Benchmark cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a report on Friday, December 6th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Finally, Citigroup cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

Shares of Frontier Communications Parent stock opened at $34.83 on Wednesday. The stock has a market capitalization of $8.67 billion, a P/E ratio of -46.44 and a beta of 1.05. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The business’s 50 day simple moving average is $35.09 and its two-hundred day simple moving average is $31.39. Frontier Communications Parent has a one year low of $20.51 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share 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 the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that Frontier Communications Parent will post -0.83 EPS for the current year.

Frontier Communications Parent Company Profile

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.