Frontier Group (NASDAQ:ULCC) Trading Down 5.1% – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price dropped 5.1% on Friday . The stock traded as low as $6.76 and last traded at $6.86. Approximately 574,622 shares were traded during trading, a decline of 63% from the average daily volume of 1,571,462 shares. The stock had previously closed at $7.23.

Analysts Set New Price Targets

ULCC has been the topic of several recent research reports. Barclays upped their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. Citigroup upped their target price on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Bank of America lowered their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Morgan Stanley decreased their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.46.

Frontier Group Trading Down 2.8 %

The firm has a fifty day moving average of $6.35 and a 200-day moving average of $5.11. 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 capitalization of $1.58 billion, a price-to-earnings ratio of -175.71 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last released 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 for the quarter, compared to analyst estimates of $943.30 million. During the same period last year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the completion of the transaction, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently modified their holdings of ULCC. SkyView Investment Advisors LLC raised its position in shares of Frontier Group by 9.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 357,003 shares of the company’s stock worth $1,910,000 after purchasing an additional 31,559 shares during the period. Virtu Financial LLC bought a new stake in Frontier Group in the 3rd quarter valued at about $145,000. Barclays PLC boosted its stake in Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares during the period. Geode Capital Management LLC grew its position in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Finally, MCIA Inc increased its stake in shares of Frontier Group by 11.2% in the third quarter. MCIA Inc now owns 163,992 shares of the company’s stock valued at $877,000 after purchasing an additional 16,577 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.