Frontier Communications Parent, Inc. (NASDAQ:FYBR) Short Interest Up 6.9% in March

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 28,510,000 shares, an increase of 6.9% from the March 15th total of 26,660,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is presently 16.9 days. Currently, 16.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research firms have commented on FYBR. Bank of America assumed coverage on Frontier Communications Parent in a research note on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup upgraded Frontier Communications Parent from a “neutral” rating to a “buy” rating and upped their price objective for the company from $28.00 to $30.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent has a consensus rating of “Moderate Buy” and a consensus target price of $27.43.

Institutional Trading of Frontier Communications Parent

Institutional investors have recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its holdings in shares of Frontier Communications Parent by 1.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 43,797 shares of the company’s stock worth $1,110,000 after acquiring an additional 441 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Frontier Communications Parent by 120.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock worth $25,000 after buying an additional 532 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Frontier Communications Parent by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company’s stock worth $1,683,000 after buying an additional 550 shares in the last quarter. Xponance Inc. grew its position in Frontier Communications Parent by 2.0% during the fourth quarter. Xponance Inc. now owns 28,019 shares of the company’s stock worth $710,000 after buying an additional 559 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Frontier Communications Parent by 0.4% during the first quarter. California State Teachers Retirement System now owns 155,920 shares of the company’s stock worth $4,314,000 after buying an additional 682 shares in the last quarter.

Frontier Communications Parent Stock Down 0.5 %

NASDAQ:FYBR traded down $0.11 during trading hours on Wednesday, hitting $23.57. The company’s stock had a trading volume of 179,543 shares, compared to its average volume of 1,661,761. The stock has a market capitalization of $5.86 billion, a P/E ratio of 197.33 and a beta of 1.05. The stock has a fifty day moving average of $23.49 and a 200-day moving average of $22.11. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. Frontier Communications Parent has a 52-week low of $11.65 and a 52-week high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that Frontier Communications Parent will post -0.44 earnings per share for the current year.

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.