Stock Traders Buy Large Volume of Frontier Communications Parent Put Options (NASDAQ:FYBR)

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 5,000 put options on the stock. This is an increase of 167% compared to the typical daily volume of 1,872 put options.

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in Frontier Communications Parent during the 4th quarter valued at $31,000. International Assets Investment Management LLC bought a new stake in Frontier Communications Parent in the second quarter valued at about $37,000. Neo Ivy Capital Management acquired a new stake in Frontier Communications Parent during the fourth quarter valued at approximately $49,000. Game Plan Financial Advisors LLC lifted its holdings in Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $52,000.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $28.04 on Wednesday. The firm has a 50-day moving average of $27.53 and a two-hundred day moving average of $25.54. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $6.97 billion, a P/E ratio of 254.91 and a beta of 1.08. Frontier Communications Parent has a 1-year low of $13.66 and a 1-year high of $29.83.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted ($0.01) EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts expect that Frontier Communications Parent will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FYBR. Citigroup boosted their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Benchmark lifted their price target on shares of Frontier Communications Parent from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group increased their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, UBS Group initiated coverage on Frontier Communications Parent in a research report on Thursday, July 18th. They issued a “buy” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.13.

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.