Frontier Communications Parent, Inc. (NASDAQ:FYBR) Sees Significant Decline in Short Interest

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

Wall Street Analyst Weigh In

FYBR has been the subject of a number of research reports. Raymond James cut shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a report on Thursday, February 6th. Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th. Finally, New Street Research cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Frontier Communications Parent presently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR remained flat at $35.77 during mid-day trading on Wednesday. 5,369,952 shares of the company traded hands, compared to its average volume of 2,470,476. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $8.93 billion, a P/E ratio of -27.73 and a beta of 1.04. Frontier Communications Parent has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The firm’s 50-day simple moving average is $35.75 and its 200 day simple moving average is $35.30.

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

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the firm’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 transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Frontier Communications Parent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in Frontier Communications Parent by 3.6% in the 4th quarter. California State Teachers Retirement System now owns 189,823 shares of the company’s stock worth $6,587,000 after buying an additional 6,639 shares in the last quarter. CIBRA Capital Ltd purchased a new stake in Frontier Communications Parent in the 4th quarter worth approximately $12,021,000. Wealth Enhancement Advisory Services LLC lifted its position in Frontier Communications Parent by 20.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,547 shares of the company’s stock worth $262,000 after buying an additional 1,303 shares in the last quarter. Tiptree Advisors LLC purchased a new stake in Frontier Communications Parent in the 4th quarter worth approximately $2,776,000. Finally, Neo Ivy Capital Management lifted its position in Frontier Communications Parent by 88.4% in the 4th quarter. Neo Ivy Capital Management now owns 12,693 shares of the company’s stock worth $440,000 after buying an additional 5,957 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.