Frontier Group (NASDAQ:ULCC) Trading Down 6.1% – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price fell 6.1% during mid-day trading on Wednesday . The stock traded as low as $9.16 and last traded at $9.14. 5,236,470 shares changed hands during trading, an increase of 89% from the average session volume of 2,773,649 shares. The stock had previously closed at $9.73.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Barclays lifted their price objective on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna boosted their price objective on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley lowered their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Citigroup increased their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.41.

Frontier Group Stock Down 4.9 %

The company has a market cap of $2.08 billion, a price-to-earnings ratio of -231.19 and a beta of 2.35. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $7.61 and its 200-day moving average price is $5.88.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Steve Schuller sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the transaction, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. This represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 788,000 shares of company stock valued at $6,214,070. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Frontier Group in the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS bought a new stake in Frontier Group in the 4th quarter valued at $50,000. Victory Capital Management Inc. acquired a new stake in Frontier Group during the 3rd quarter valued at $54,000. Ballentine Partners LLC bought a new position in Frontier Group during the third quarter worth $55,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares during the last quarter.

Frontier Group Company Profile

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.