Traders Purchase Large Volume of Call Options on Frontier Communications Parent (NASDAQ:FYBR)

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the target of unusually large options trading on Friday. Stock traders bought 3,096 call options on the stock. This is an increase of approximately 2,438% compared to the average daily volume of 122 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in Frontier Communications Parent in the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. grew its holdings in shares of Frontier Communications Parent by 957.5% in the first quarter. Geneos Wealth Management Inc. now owns 772 shares of the company’s stock valued at $28,000 after acquiring an additional 699 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Frontier Communications Parent during the third quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Frontier Communications Parent by 469.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,138 shares of the company’s stock worth $43,000 after acquiring an additional 938 shares during the period. Finally, Covestor Ltd boosted its position in Frontier Communications Parent by 173.5% in the third quarter. Covestor Ltd now owns 1,195 shares of the company’s stock worth $45,000 after purchasing an additional 758 shares during the last quarter.

Frontier Communications Parent Stock Up 0.1%

NASDAQ FYBR traded up $0.04 during trading hours on Friday, hitting $38.48. The company’s stock had a trading volume of 8,389,570 shares, compared to its average volume of 5,371,554. Frontier Communications Parent has a 52 week low of $35.31 and a 52 week high of $38.50. The company has a market capitalization of $9.63 billion, a PE ratio of -25.31 and a beta of 0.94. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.56. The company’s 50-day simple moving average is $38.03 and its two-hundred day simple moving average is $37.43.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.33) earnings per share. Research analysts anticipate that Frontier Communications Parent will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FYBR. Weiss Ratings restated a “sell (d)” rating on shares of Frontier Communications Parent in a report on Monday, December 29th. Zacks Research raised shares of Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Frontier Communications Parent has an average rating of “Hold”.

About Frontier Communications Parent

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.