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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,950,000 shares, a growth 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 short-interest ratio is presently 2.8 days. Approximately 4.7% of the shares of the company are short sold.

Insider Buying and Selling

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Communications Parent

Several large investors have recently bought and sold shares of FYBR. SG Americas Securities LLC grew its stake in shares of Frontier Communications Parent by 117.1% during the 2nd quarter. SG Americas Securities LLC now owns 14,745 shares of the company’s stock valued at $386,000 after purchasing an additional 7,952 shares during the period. Blue Trust Inc. grew its position in shares of Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 shares during the period. Raymond James & Associates raised its holdings in Frontier Communications Parent by 7.0% in the 2nd quarter. Raymond James & Associates now owns 56,833 shares of the company’s stock worth $1,488,000 after purchasing an additional 3,728 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Frontier Communications Parent during the 2nd quarter valued at approximately $185,000. Finally, SummerHaven Investment Management LLC raised its position in shares of Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after buying an additional 585 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FYBR shares. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, TD Cowen lowered Frontier Communications Parent from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Up 0.2 %

FYBR stock traded up $0.08 during trading on Tuesday, hitting $34.84. 2,472,305 shares of the stock traded hands, compared to its average volume of 2,277,983. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of -46.35 and a beta of 1.05. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent has a 1 year low of $20.51 and a 1 year high of $39.21. The firm’s 50 day moving average is $35.10 and its two-hundred day moving average is $31.33.

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

About Frontier Communications Parent

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.