Investors Buy Large Volume of Frontier Communications Parent Put Options (NASDAQ:FYBR)

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the target of unusually large options trading activity on Tuesday. Traders bought 15,942 put options on the stock. This represents an increase of 489% compared to the typical daily volume of 2,707 put options.

Frontier Communications Parent Trading Down 0.1 %

Frontier Communications Parent stock opened at $23.68 on Wednesday. The stock has a market capitalization of $5.89 billion, a PE ratio of 197.33 and a beta of 1.05. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. The business’s fifty day moving average is $23.49 and its 200 day moving average is $22.11. Frontier Communications Parent has a one year low of $11.65 and a one year high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Frontier Communications Parent will post -0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FYBR. Bank of America began coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price target for the company. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $30.00 in a research report on Monday. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Frontier Communications Parent presently has an average rating of “Moderate Buy” and a consensus price target of $27.43.

Institutional Trading of Frontier Communications Parent

Several hedge funds and other institutional investors have recently bought and sold shares of FYBR. Bank of New York Mellon Corp grew its position in shares of Frontier Communications Parent by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 324,053 shares of the company’s stock worth $8,966,000 after buying an additional 3,995 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Frontier Communications Parent during the 1st quarter worth $749,000. Bank of Montreal Can bought a new position in shares of Frontier Communications Parent during the 1st quarter worth $5,088,000. Dimensional Fund Advisors LP purchased a new stake in shares of Frontier Communications Parent during the 1st quarter worth $3,517,000. Finally, Sei Investments Co. raised its stake in Frontier Communications Parent by 104.9% in the first quarter. Sei Investments Co. now owns 151,036 shares of the company’s stock valued at $4,179,000 after buying an additional 77,309 shares during 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.