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

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price gapped up before the market opened 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on ULCC. UBS Group began coverage on Frontier Group in a research report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price objective for the company. TD Cowen upped their price target on Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Bank of America restated a “neutral” rating and issued a $6.00 price target (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Barclays upped their price target on Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Evercore ISI upped their price target on Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Frontier Group currently has an average rating of “Hold” and a consensus price target of $7.78.

Frontier Group Stock Performance

The business has a 50 day moving average of $7.38 and a 200 day moving average of $5.57. The company has a market capitalization of $1.53 billion, a P/E ratio of -108.33 and a beta of 2.57. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 14,500 shares of the stock in a transaction that occurred on 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 directly owns 63,949 shares of the company’s stock, valued at $461,072.29. The sale was disclosed in a filing with the SEC, which is available through this link. 83.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Several institutional investors have recently modified their holdings of the stock. U S Global Investors Inc. raised its holdings in shares of Frontier Group by 46.0% in the fourth quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock worth $57,241,000 after buying an additional 3,305,465 shares during the period. Ancient Art L.P. increased its holdings in Frontier Group by 52.3% during the 3rd quarter. Ancient Art L.P. now owns 7,961,321 shares of the company’s stock worth $38,533,000 after purchasing an additional 2,734,104 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Frontier Group by 215.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,837,680 shares of the company’s stock worth $26,589,000 after purchasing an additional 1,938,222 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Frontier Group during the 1st quarter worth $12,749,000. Finally, First Dallas Securities Inc. increased its holdings in Frontier Group by 985.8% during the 3rd quarter. First Dallas Securities Inc. now owns 952,746 shares of the company’s stock worth $4,611,000 after purchasing an additional 864,996 shares during the period.

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.