Frontier Group (NASDAQ:ULCC) Shares Down 12.9% – Time to Sell?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price traded down 12.9% during trading on Monday . The stock traded as low as $5.91 and last traded at $5.92. 785,106 shares traded hands during trading, a decline of 62% from the average session volume of 2,088,608 shares. The stock had previously closed at $6.80.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ULCC shares. Barclays raised their price target on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lowered Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Susquehanna upped their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen lifted their target price on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and a consensus target price of $6.52.

Frontier Group Stock Down 15.0 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The company’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $4.96.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ULCC. Geode Capital Management LLC raised its position in Frontier Group by 38.4% during 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. Barclays PLC boosted its position in shares of Frontier Group by 378.6% during the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after buying an additional 57,642 shares during the last quarter. MCIA Inc raised its stake in Frontier Group by 11.2% during the 3rd quarter. MCIA Inc now owns 163,992 shares of the company’s stock valued at $877,000 after buying an additional 16,577 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Frontier Group in the 3rd quarter worth approximately $188,000. Finally, IHT Wealth Management LLC bought a new stake in Frontier Group during the third quarter valued at about $71,000.

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.