5 Best Short-Term Stocks to Invest In

2. Frontier Communications Parent, Inc. (NASDAQ:FYBR)

3-Month Return as of November 21: 34.41%

One-Year Return as of November 21: -16.30%

Number of Hedge Fund Holders: 39

Dallas, Texas-based Frontier Communications Parent, Inc. (NASDAQ:FYBR) is the largest pure-play fiber provider in the United States. It delivers broadband connectivity to millions of consumers and businesses across the country.

On November 1, Frontier Communications Parent, Inc. (NASDAQ:FYBR) released its Q3 2023 financial results. Even though the revenue was nearly in line with the consensus estimates at $1.44 billion, the normalized EPS, at $0.15, exceeded expectations by a whopping $0.30.

Following the earnings release, JP Morgan analyst Philip Cusick lowered the price target on Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares to $29 from $33 but maintained an ‘Overweight’ rating. The target price represents a 39% potential upside based on the share price on November 21.

As of Q3 2023, Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares were held by 39 hedge funds. Matthew Barrett’s Glendon Capital Management was the largest hedge fund shareholder with ownership of 24.2 million shares valued at $379 million.