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

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) was the recipient of a significant increase in short interest in 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 company's stock are short sold. Based on an average trading volume of 3,170,000 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. TD Cowen lowered Frontier Communications Parent from a "buy" rating to a "hold" rating and dropped their target price for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Wolfe Research cut shares of Frontier Communications Parent from an "outperform" rating to a "peer perform" rating in a report on Monday, September 30th. Citigroup downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. UBS Group downgraded Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 6th. Finally, Moffett Nathanson cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 5th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.31.

Insider Activity

In other news, EVP John Harrobin sold 23,491 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares of the company's stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Frontier Communications Parent during the third quarter worth about $586,000. Anthracite Investment Company Inc. acquired a new position in shares of Frontier Communications Parent during the 3rd quarter worth approximately $1,743,000. Charles Schwab Investment Management Inc. grew its position in shares of Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company's stock valued at $82,108,000 after purchasing an additional 109,648 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Frontier Communications Parent in the third quarter valued at approximately $2,299,000. Finally, Citigroup Inc. lifted its position in Frontier Communications Parent by 106.9% during the third quarter. Citigroup Inc. now owns 239,893 shares of the company's stock worth $8,523,000 after buying an additional 123,939 shares in the last quarter.

Frontier Communications Parent Price Performance

NASDAQ FYBR traded up $0.11 on Monday, hitting $34.76. The company had a trading volume of 4,461,768 shares, compared to its average volume of 2,277,393. 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 company's fifty day moving average price is $35.10 and its 200-day moving average price is $31.33. The company has a market capitalization of $8.66 billion, a PE ratio of -46.35 and a beta of 1.05. Frontier Communications Parent has a 12-month low of $20.51 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. As a group, analysts predict that Frontier Communications Parent will post -0.83 earnings per share for the current year.

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.