Frontier Group (NASDAQ:ULCC) Stock Price Up 6.6% – Still a Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price shot up 6.6% during mid-day trading on Wednesday . The company traded as high as $3.53 and last traded at $3.52. 411,699 shares were traded during trading, a decline of 83% from the average session volume of 2,368,391 shares. The stock had previously closed at $3.30.

Wall Street Analyst Weigh In

ULCC has been the subject of several recent research reports. Citigroup decreased their price target on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating for the company in a research report on Friday. Barclays decreased their target price on Frontier Group from $14.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday. Evercore ISI cut their price target on Frontier Group from $7.00 to $5.00 and set an “in-line” rating on the stock in a report on Friday. Morgan Stanley lifted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Finally, Susquehanna lowered their price objective on Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.11.

Frontier Group Trading Down 5.6 %

The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The firm has a market cap of $765.83 million, a PE ratio of 9.36 and a beta of 2.52. The business has a fifty day moving average price of $6.43 and a 200 day moving average price of $6.59.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Insider Buying and Selling

In related news, SVP Alexandre Clerc sold 15,152 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. This represents a 38.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the transaction, the chief executive officer now directly owns 864,817 shares in the company, valued at approximately $7,247,166.46. This trade represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,982 shares of company stock worth $4,515,647 in the last ninety days. 81.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Frontier Group by 81.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after buying an additional 269,221 shares during the last quarter. IHT Wealth Management LLC acquired a new position in Frontier Group in the 3rd quarter valued at about $71,000. Point72 Asset Management L.P. purchased a new stake in Frontier Group during the 3rd quarter valued at approximately $188,000. Barclays PLC lifted its position in Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock worth $389,000 after acquiring an additional 57,642 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after purchasing an additional 441,001 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.