Frontier Group (NASDAQ:ULCC) Shares Down 5.3% Following Analyst Downgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC) dropped 5.3% during trading on Thursday after UBS Group lowered their price target on the stock from $10.00 to $7.00. UBS Group currently has a neutral rating on the stock. Frontier Group traded as low as $5.73 and last traded at $5.65. Approximately 332,323 shares traded hands during trading, a decline of 85% from the average daily volume of 2,191,505 shares. The stock had previously closed at $5.96.

Several other research analysts have also recently commented on the stock. Barclays raised their target price on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Morgan Stanley raised their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Susquehanna raised their target price on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, Citigroup reissued a “neutral” rating and set a $7.25 price target on shares of Frontier Group in a research report on Thursday. 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, Frontier Group presently has a consensus rating of “Hold” and a consensus price target of $7.58.

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. This represents a 38.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barry Biffle sold 273,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the completion of the sale, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. This trade represents a 25.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 860,982 shares of company stock valued at $6,912,597. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Frontier Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock valued at $58,207,000 after purchasing an additional 26,682 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Frontier Group by 31.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock valued at $17,042,000 after purchasing an additional 578,151 shares during the period. Towle & Co. boosted its holdings in Frontier Group by 6.1% in the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock valued at $16,701,000 after purchasing an additional 134,723 shares during the period. Voloridge Investment Management LLC increased its stake in Frontier Group by 835.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock valued at $12,101,000 after acquiring an additional 1,520,094 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Frontier Group by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock valued at $11,564,000 after purchasing an additional 35,355 shares during the period.

Frontier Group Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 15.51 and a beta of 2.37. The stock has a fifty day moving average price of $7.84 and a 200-day moving average price of $6.57.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

About Frontier Group

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.