Frontier Communications Parent, Inc. (NASDAQ:FYBR) Short Interest Up 5.4% in November

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 8,950,000 shares, an increase of 5.4% from the November 15th total of 8,490,000 shares. Based on an average daily trading volume, of 3,170,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FYBR shares. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. UBS Group lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Raymond James downgraded Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Frontier Communications Parent has an average rating of “Hold” and an average target price of $35.31.

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after acquiring an additional 1,587,145 shares during the last quarter. Luxor Capital Group LP boosted its holdings in Frontier Communications Parent by 1.6% in the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after purchasing an additional 43,542 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Frontier Communications Parent by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock valued at $82,108,000 after buying an additional 109,648 shares during the period. American Century Companies Inc. increased its holdings in shares of Frontier Communications Parent by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock worth $52,515,000 after buying an additional 79,265 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Frontier Communications Parent by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,874,245 shares of the company’s stock valued at $49,068,000 after buying an additional 51,133 shares during the period.

Frontier Communications Parent Stock Performance

NASDAQ FYBR traded up $0.08 during trading hours on Tuesday, reaching $34.84. The stock had a trading volume of 2,472,305 shares, compared to its average volume of 2,277,983. Frontier Communications Parent has a 52-week low of $20.51 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 $8.68 billion, a P/E ratio of -46.35 and a beta of 1.05. The stock has a fifty day moving average of $35.10 and a 200 day moving average of $31.33.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. Sell-side analysts predict that Frontier Communications Parent will post -0.83 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.