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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the recipient of a large decline in short interest in 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. Currently, 3.6% of the company’s 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

FYBR stock traded up $0.01 during midday trading on Tuesday, reaching $35.77. The stock had a trading volume of 5,003,447 shares, compared to its average volume of 2,458,917. The firm has a fifty day simple moving average of $35.74 and a two-hundred day simple moving average of $35.26. Frontier Communications Parent has a 52-week low of $21.31 and a 52-week high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $8.93 billion, a PE ratio of -27.73 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

FYBR has been the topic of a number of analyst reports. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Raymond James lowered Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.31.

Insider Transactions at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Frontier Communications Parent

Several institutional investors and hedge funds have recently bought and sold shares of FYBR. GSA Capital Partners LLP purchased a new position in shares of Frontier Communications Parent during the third quarter worth $586,000. Victory Capital Management Inc. lifted its holdings in shares of Frontier Communications Parent by 4.2% in the 3rd quarter. Victory Capital Management Inc. now owns 66,529 shares of the company’s stock valued at $2,364,000 after buying an additional 2,669 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Frontier Communications Parent in the third quarter worth about $499,000. CIBC Asset Management Inc acquired a new stake in Frontier Communications Parent during the third quarter worth about $255,000. Finally, Natixis Advisors LLC lifted its holdings in Frontier Communications Parent by 10.4% in the third quarter. Natixis Advisors LLC now owns 18,851 shares of the company’s stock valued at $670,000 after acquiring an additional 1,778 shares during the period.

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.