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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 7,400,000 shares, a decline of 19.7% from the February 13th total of 9,210,000 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 2,570,000 shares, the short-interest ratio is presently 2.9 days.

Frontier Communications Parent Stock Performance

Shares of FYBR stock opened at $35.84 on Monday. The stock has a 50-day simple moving average of $35.72 and a 200 day simple moving average of $35.20. Frontier Communications Parent has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The stock has a market capitalization of $8.95 billion, a P/E ratio of -27.78 and a beta of 1.04. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FYBR shares. Raymond James downgraded 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 downgraded 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 research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.31.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 76,523 shares of the company’s stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Frontier Communications Parent

Hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its position in Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after acquiring an additional 425 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Frontier Communications Parent in the 3rd quarter valued at approximately $52,000. Lazard Asset Management LLC bought a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $76,000. Quarry LP bought a new position in shares of Frontier Communications Parent in the 3rd quarter valued at approximately $91,000. Finally, Russell Investments Group Ltd. raised its stake in shares of 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 acquiring an additional 1,399 shares in the last quarter.

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.