Frontier Communications Parent, Inc. (NASDAQ:FYBR) Sees Large Drop in Short Interest

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 5,130,000 shares, a drop of 26.8% from the May 15th total of 7,010,000 shares. Currently, 2.2% of the company's stock are short sold. Based on an average daily trading volume, of 3,540,000 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FYBR shares. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. 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 issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $36.07.

Frontier Communications Parent Stock Down 0.1%

FYBR traded down $0.02 on Friday, hitting $36.18. The company had a trading volume of 2,704,493 shares, compared to its average volume of 2,996,210. The stock has a fifty day moving average price of $36.35 and a 200-day moving average price of $35.80. Frontier Communications Parent has a 12-month low of $24.43 and a 12-month high of $39.21. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of -23.34 and a beta of 0.97.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.07. Frontier Communications Parent had a negative return on equity of 7.73% and a negative net margin of 6.47%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Frontier Communications Parent will post -1.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC grew its stake in Frontier Communications Parent by 0.8% in the fourth quarter. Mariner LLC now owns 37,731 shares of the company's stock valued at $1,309,000 after purchasing an additional 301 shares during the last quarter. Jag Capital Management LLC grew its stake in shares of Frontier Communications Parent by 3.9% during the first quarter. Jag Capital Management LLC now owns 8,320 shares of the company's stock worth $298,000 after acquiring an additional 311 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Frontier Communications Parent by 15.4% during the first quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock valued at $87,000 after acquiring an additional 323 shares in the last quarter. Xponance Inc. increased its holdings in shares of Frontier Communications Parent by 1.3% during the first quarter. Xponance Inc. now owns 26,712 shares of the company's stock valued at $958,000 after acquiring an additional 333 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Frontier Communications Parent by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 45,105 shares of the company's stock valued at $1,565,000 after acquiring an additional 344 shares in the last quarter.

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.