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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the recipient of a large decline in short interest in 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. Based on an average daily trading volume, of 2,570,000 shares, the short-interest ratio is currently 2.9 days. Approximately 3.6% of the company’s stock are short sold.

Frontier Communications Parent Price Performance

NASDAQ FYBR remained flat at $35.77 on Wednesday. 5,369,952 shares of the company’s stock traded hands, compared to its average volume of 2,470,476. Frontier Communications Parent has a 1 year low of $21.31 and a 1 year 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. 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 posted its earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. On average, sell-side analysts anticipate that Frontier Communications Parent will post -1.11 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of Frontier Communications Parent by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 189,823 shares of the company’s stock valued at $6,587,000 after acquiring an additional 6,639 shares in the last quarter. CIBRA Capital Ltd bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at approximately $12,021,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Frontier Communications Parent by 20.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,547 shares of the company’s stock valued at $262,000 after acquiring an additional 1,303 shares in the last quarter. Tiptree Advisors LLC bought a new position in shares of Frontier Communications Parent in the fourth quarter valued at approximately $2,776,000. Finally, Neo Ivy Capital Management boosted its holdings in shares of Frontier Communications Parent by 88.4% in the fourth quarter. Neo Ivy Capital Management now owns 12,693 shares of the company’s stock valued at $440,000 after acquiring an additional 5,957 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FYBR shares. New Street Research lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. Finally, Benchmark restated a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.31.

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.