On April 4, 2023 at 10:17:00 ET an unusually large $441.00K block of Call contracts in Frontier Communications Parent (FYBR) was bought, with a strike price of $25.00 / share, expiring in 164 days (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 90.32 percentile of all recent large trades made in FYBR options.
This trade was first picked up on Fintel's real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 68.07% Upside
As of March 30, 2023, the average one-year price target for Frontier Communications Parent is $37.46. The forecasts range from a low of $19.19 to a high of $72.45. The average price target represents an increase of 68.07% from its latest reported closing price of $22.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Frontier Communications Parent is $5,836MM, an increase of 0.85%. The projected annual non-GAAP EPS is $0.38.
What is the Fund Sentiment?
There are 557 funds or institutions reporting positions in Frontier Communications Parent. This is an increase of 91 owner(s) or 19.53% in the last quarter. Average portfolio weight of all funds dedicated to FYBR is 0.78%, a decrease of 1.07%. Total shares owned by institutions increased in the last three months by 1.83% to 269,370K shares. The put/call ratio of FYBR is 2.20, indicating a bearish outlook.
What are Large Shareholders Doing?
Ares Management holds 35,205K shares representing 14.37% ownership of the company. No change in the last quarter.
Cerberus Capital Management holds 23,105K shares representing 9.43% ownership of the company. In it's prior filing, the firm reported owning 23,018K shares, representing an increase of 0.37%. The firm increased its portfolio allocation in FYBR by 14.35% over the last quarter.
Glendon Capital Management holds 21,279K shares representing 8.68% ownership of the company. No change in the last quarter.
Capital International Investors holds 15,264K shares representing 6.23% ownership of the company. In it's prior filing, the firm reported owning 13,948K shares, representing an increase of 8.62%. The firm increased its portfolio allocation in FYBR by 9.52% over the last quarter.
Silver Point Capital holds 8,432K shares representing 3.44% ownership of the company. In it's prior filing, the firm reported owning 9,481K shares, representing a decrease of 12.44%. The firm increased its portfolio allocation in FYBR by 3.07% over the last quarter.
Frontier Communications Parent Background Information
(This description is provided by the company.)
Frontier Communications Parent, Inc. is an American telecommunications company. The company previously served primarily rural areas and smaller communities, but now also serves several large metropolitan markets.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
