Frontier Communications Parent, Inc. (NASDAQ:FYBR) Short Interest Update

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 7,400,000 shares, a drop of 19.7% from the February 13th total of 9,210,000 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 2,570,000 shares, the days-to-cover ratio is currently 2.9 days.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $35.84 on Monday. Frontier Communications Parent has a 1-year low of $21.31 and a 1-year high of $39.21. The firm has a market capitalization of $8.95 billion, a PE ratio of -27.78 and a beta of 1.04. The business’s 50 day moving average is $35.72 and its 200-day moving average is $35.20. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. Sell-side analysts predict that Frontier Communications Parent will post -1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FYBR shares. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Finally, New Street Research lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.31.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the sale, the executive vice president now owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Frontier Communications Parent

Several institutional investors have recently bought and sold shares of FYBR. UMB Bank n.a. boosted its stake in Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 425 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Frontier Communications Parent in the 3rd quarter valued at $52,000. Lazard Asset Management LLC acquired a new stake in Frontier Communications Parent in the 4th quarter valued at $76,000. Quarry LP acquired a new stake in Frontier Communications Parent in the 3rd quarter valued at $91,000. Finally, Russell Investments Group Ltd. raised its position in Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company’s stock valued at $177,000 after purchasing an additional 1,399 shares during 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.