Short Interest in Frontier Communications Parent, Inc. (NASDAQ:FYBR) Drops By 26.4%

Key Points

• Short interest in Frontier Communications Parent, Inc. (NASDAQ:FYBR) has decreased by 26.4% from 6,470,000 shares in August to 4,760,000 shares as of September 15th.
• Several institutional investors have made significant adjustments to their holdings in Frontier, with GAMMA Investing LLC increasing its stake by an impressive 3,829.1% in the first quarter.
• Despite a revenue increase of 4.0% year-over-year, the company's recent earnings report showed a loss of ($0.49) per share, missing analyst expectations by ($0.18).

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 4,760,000 shares, a drop of 26.4% from the August 31st total of 6,470,000 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Frontier Communications Parent by 20.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,547 shares of the company's stock worth $262,000 after purchasing an additional 1,303 shares during the period. GAMMA Investing LLC grew its position in Frontier Communications Parent by 3,829.1% during the first quarter. GAMMA Investing LLC now owns 108,405 shares of the company's stock valued at $3,887,000 after buying an additional 105,646 shares during the period. Wedmont Private Capital grew its position in Frontier Communications Parent by 13.8% during the first quarter. Wedmont Private Capital now owns 31,718 shares of the company's stock valued at $1,138,000 after buying an additional 3,836 shares during the period. UMB Bank n.a. increased its holdings in Frontier Communications Parent by 113.9% in the first quarter. UMB Bank n.a. now owns 2,246 shares of the company's stock valued at $81,000 after buying an additional 1,196 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Frontier Communications Parent by 15.4% in the first quarter. Fifth Third Bancorp now owns 2,424 shares of the company's stock worth $87,000 after acquiring an additional 323 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Frontier Communications Parent in a research note on Saturday, September 27th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $38.50.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR opened at $37.35 on Tuesday. The company has a 50 day simple moving average of $37.09 and a two-hundred day simple moving average of $36.59. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -24.10 and a beta of 0.94. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent has a 12 month low of $33.72 and a 12 month high of $37.87.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company earned ($0.49) EPS. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, analysts predict that Frontier Communications Parent will post -1.11 earnings per share 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.

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