Short Interest in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Drops By 19.7%

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) was the recipient of a significant 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. Approximately 3.6% of the shares of the company are short sold. Based on an average trading volume of 2,570,000 shares, the days-to-cover ratio is presently 2.9 days.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR traded up $0.18 during mid-day trading on Thursday, reaching $35.95. 4,058,726 shares of the company's stock were exchanged, compared to its average volume of 2,475,735. Frontier Communications Parent has a one year low of $21.31 and a one year high of $39.21. The firm has a market capitalization of $8.98 billion, a PE ratio of -27.87 and a beta of 1.04. The business's fifty day simple moving average is $35.76 and its two-hundred day simple moving average is $35.31. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

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

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. New Street Research lowered shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Benchmark reissued a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Frontier Communications Parent presently has a consensus rating of "Hold" and a consensus target price 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 stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the sale, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Frontier Communications Parent

A number of hedge funds have recently bought and sold shares of FYBR. UMB Bank n.a. increased its holdings 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 during the period. Meeder Asset Management Inc. bought a new position in Frontier Communications Parent in the 3rd quarter valued at about $52,000. Lazard Asset Management LLC bought a new position in Frontier Communications Parent in the 4th quarter valued at about $76,000. Quarry LP bought a new position in Frontier Communications Parent in the 3rd quarter valued at about $91,000. Finally, Russell Investments Group Ltd. increased its holdings 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 buying an additional 1,399 shares during the period.

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.