Frontier Communications Parent, Inc. (NASDAQ:FYBR) Short Interest Update

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FYBR. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.07.

Frontier Communications Parent Stock Down 0.1%

Shares of NASDAQ:FYBR opened at $36.21 on Wednesday. Frontier Communications Parent has a 52 week low of $24.43 and a 52 week 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 company has a market cap of $9.06 billion, a PE ratio of -23.36 and a beta of 0.97. The firm has a 50 day simple moving average of $36.33 and a 200 day simple moving average of $35.76.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.51 billion. The company's revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that Frontier Communications Parent will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Frontier Communications Parent by 0.3% during the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock worth $873,364,000 after purchasing an additional 77,795 shares during the period. Norges Bank purchased a new stake in Frontier Communications Parent in the 4th quarter worth approximately $191,247,000. Pentwater Capital Management LP acquired a new stake in shares of Frontier Communications Parent during the 1st quarter valued at $161,370,000. Millennium Management LLC grew its holdings in shares of Frontier Communications Parent by 56.2% during the 1st quarter. Millennium Management LLC now owns 4,487,109 shares of the company's stock valued at $160,908,000 after acquiring an additional 1,615,356 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Frontier Communications Parent by 39.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,378,238 shares of the company's stock valued at $157,004,000 after acquiring an additional 1,228,524 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.

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