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

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $5.39, but opened at $5.27. Frontier Group shares last traded at $5.25, with a volume of 511,471 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on ULCC shares. Bank of America reduced their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Barclays boosted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Susquehanna raised their price objective on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Evercore ISI upped their price objective on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, TD Cowen lifted their price target on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Frontier Group currently has a consensus rating of “Hold” and an average price target of $6.52.

Frontier Group Price Performance

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 stock has a market cap of $1.22 billion, a PE ratio of -134.75 and a beta of 2.51. The business has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $4.95.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. During the same period in the prior year, the firm posted ($0.14) EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. Research analysts expect 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 stock in a transaction 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 transaction, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 22.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new stake in shares of Frontier Group in the 2nd quarter valued at $45,000. nVerses Capital LLC boosted its position in Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after buying an additional 6,100 shares during the period. Victory Capital Management Inc. bought a new position in shares of Frontier Group during the third quarter valued at about $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group in the third quarter worth about $55,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Frontier Group in the 2nd quarter valued at about $58,000.

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.