Frontier Group (NASDAQ:ULCC) Stock Price Down 10.2% – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price traded down 10.2% on Monday . The company traded as low as $5.96 and last traded at $5.97. 1,532,711 shares were traded during trading, a decline of 48% from the average session volume of 2,954,373 shares. The stock had previously closed at $6.64.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ULCC. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Barclays increased their target price on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Susquehanna upped their price target on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, UBS Group raised their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.74.

Frontier Group Price Performance

The company has a market capitalization of $1.37 billion, a PE ratio of 16.78 and a beta of 2.37. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $8.09 and its 200-day moving average is $6.45.

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

Insiders Place Their Bets

In other Frontier Group 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 transaction, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at $5,399,540.96. The trade was a 16.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Howard Diamond sold 87,830 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares of the company’s stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 845,830 shares of company stock valued at $6,812,139. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Several institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Frontier Group by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company’s stock worth $217,000 after purchasing an additional 2,296 shares during the period. Rhumbline Advisers lifted its holdings in Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock worth $394,000 after buying an additional 2,334 shares during the period. R Squared Ltd bought a new stake in shares of Frontier Group in the 4th quarter worth approximately $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Frontier Group by 8.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock worth $536,000 after buying an additional 5,834 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Frontier Group during the fourth quarter valued at approximately $50,000.

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.