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

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares were down 5.1% during mid-day trading on Friday . The company 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.

Wall Street Analyst Weigh In

Several research analysts have commented on ULCC shares. Evercore ISI raised their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. UBS Group began coverage on shares of Frontier Group in a report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price on the stock. Morgan Stanley cut their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Finally, Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.46.

Frontier Group Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The stock has a 50 day moving average of $6.35 and a 200 day moving average of $5.12. The firm has a market cap of $1.60 billion, a P/E ratio of -177.71 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) EPS. As a group, equities research analysts predict that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Insider Transactions at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the sale, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This represents a 16.93 % 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 Trading of Frontier Group

Several large investors have recently added to or reduced their stakes in ULCC. Bank of New York Mellon Corp raised its position in shares of Frontier Group by 24.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company’s stock worth $643,000 after acquiring an additional 25,523 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after buying an additional 3,543 shares during the last quarter. Arizona State Retirement System increased its position in shares of Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after acquiring an additional 3,521 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Frontier Group in the 2nd quarter worth approximately $415,000. Finally, Dimensional Fund Advisors LP lifted its position in Frontier Group by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 309,282 shares of the company’s stock valued at $1,524,000 after acquiring an additional 21,829 shares in the last quarter.

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.