Traders Buy High Volume of Frontier Communications Parent Put Options (NASDAQ:FYBR)

Frontier Communications Parent, Inc. (NASDAQ:FYBR) was the recipient of some unusual options trading activity on Monday. Traders bought 16,924 put options on the company. This represents an increase of 273% compared to the typical daily volume of 4,535 put options.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock traded down $0.17 during trading hours on Monday, hitting $35.84. 1,529,320 shares of the company traded hands, compared to its average volume of 2,107,308. The firm has a market cap of $8.92 billion, a P/E ratio of -97.32 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm’s 50-day simple moving average is $34.01 and its two-hundred day simple moving average is $28.77. Frontier Communications Parent has a 1-year low of $16.30 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, analysts forecast that Frontier Communications Parent will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Frontier Communications Parent in the second quarter worth approximately $37,000. Blue Trust Inc. increased its position in shares of Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after acquiring an additional 2,244 shares in the last quarter. Game Plan Financial Advisors LLC increased its position in shares of Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after acquiring an additional 500 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Frontier Communications Parent by 18.9% in the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after acquiring an additional 444 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Frontier Communications Parent by 140.9% in the first quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock worth $103,000 after acquiring an additional 2,461 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FYBR shares. The Goldman Sachs Group raised their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.31.

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.