Frontier Group (NASDAQ:ULCC) Shares Gap Down – What’s Next?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped down before the market opened on Monday . The stock had previously closed at $6.99, but opened at $6.77. Frontier Group shares last traded at $6.78, with a volume of 164,395 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on ULCC. Evercore ISI boosted their target price on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Susquehanna boosted their target price on shares of Frontier Group from $3.00 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen boosted their target price on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Frontier Group currently has a consensus rating of “Hold” and an average price target of $5.77.

Frontier Group Trading Down 2.7 %

The company has a market cap of $1.53 billion, a P/E ratio of -24.10 and a beta of 2.55. The stock’s 50 day moving average is $4.44 and its 200-day moving average is $4.98. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The business had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Frontier Group’s revenue was up .6% on a year-over-year basis. Research analysts anticipate that Frontier Group Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ULCC. Blue Trust Inc. bought a new position in shares of Frontier Group during the 2nd quarter valued at approximately $45,000. nVerses Capital LLC raised its holdings in Frontier Group by 152.5% during the 2nd 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. Vanguard Personalized Indexing Management LLC purchased a new stake in Frontier Group during the 2nd quarter valued at $58,000. Arizona State Retirement System increased its stake in Frontier Group by 29.0% in the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after purchasing an additional 3,521 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $98,000 after purchasing an additional 4,279 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.