Frontier Group (NASDAQ:ULCC) Shares Gap Up to $6.50

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $6.50, but opened at $6.69. Frontier Group shares last traded at $6.91, with a volume of 120,587 shares trading hands.

Wall Street Analyst Weigh In

ULCC has been the subject of a number of recent research reports. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Evercore ISI boosted their price target on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research note on Thursday, April 4th. TD Cowen boosted their price target on Frontier Group from $5.00 to $12.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Susquehanna boosted their price target on Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Barclays boosted their price target on Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group currently has a consensus rating of “Hold” and a consensus target price of $7.78.

Frontier Group Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -108.33 and a beta of 2.57. The company has a 50 day simple moving average of $7.38 and a 200 day simple moving average of $5.57.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $7.21, for a total transaction of $104,545.00. Following the completion of the transaction, the chief executive officer now owns 63,949 shares of the company’s stock, valued at $461,072.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 83.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. PDT Partners LLC increased its stake in shares of Frontier Group by 3.3% in the second quarter. PDT Partners LLC now owns 32,693 shares of the company’s stock valued at $306,000 after buying an additional 1,059 shares during the period. Royal Bank of Canada increased its stake in shares of Frontier Group by 45.7% in the third quarter. Royal Bank of Canada now owns 3,387 shares of the company’s stock valued at $32,000 after buying an additional 1,062 shares during the period. Credit Suisse AG increased its stake in shares of Frontier Group by 4.5% in the fourth quarter. Credit Suisse AG now owns 29,047 shares of the company’s stock valued at $298,000 after buying an additional 1,264 shares during the period. Rhumbline Advisers increased its stake in shares of Frontier Group by 2.9% in the first quarter. Rhumbline Advisers now owns 49,698 shares of the company’s stock valued at $489,000 after buying an additional 1,383 shares during the period. Finally, State of Wyoming boosted its holdings in Frontier Group by 27.9% in the second quarter. State of Wyoming now owns 6,655 shares of the company’s stock valued at $64,000 after acquiring an additional 1,452 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.