Frontier Group (NASDAQ:ULCC) Shares Gap Down to $7.11

Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped down prior to trading on Tuesday . The stock had previously closed at $7.11, but opened at $6.90. Frontier Group shares last traded at $6.93, with a volume of 331,692 shares.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen lifted their target price on shares of Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Bank of America reissued a “neutral” rating and set a $6.00 price objective (down from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Susquehanna boosted their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley reissued an “equal weight” rating and set a $8.00 price objective (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Finally, UBS Group started coverage on shares of Frontier Group in a research report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.78.

Frontier Group Trading Down 5.2 %

The company has a market cap of $1.51 billion, a P/E ratio of -118.50 and a beta of 2.57. The stock’s 50 day moving average is $7.34 and its 200-day moving average is $5.64. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 14,500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $7.21, for a total value of $104,545.00. Following the transaction, the chief executive officer now owns 63,949 shares in the company, valued at approximately $461,072.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 81.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. U S Global Investors Inc. increased its position in shares of Frontier Group by 46.0% during the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after purchasing an additional 3,305,465 shares during the last quarter. Vanguard Group Inc. increased its holdings in Frontier Group by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after acquiring an additional 636,921 shares in the last quarter. Jump Financial LLC purchased a new stake in Frontier Group in the 3rd quarter worth approximately $1,867,000. Boston Partners increased its holdings in Frontier Group by 65.5% in the 3rd quarter. Boston Partners now owns 184,559 shares of the company’s stock worth $893,000 after acquiring an additional 73,024 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Frontier Group by 29.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,166 shares of the company’s stock worth $2,106,000 after acquiring an additional 98,852 shares in 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.