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 Wednesday . The stock had previously closed at $5.39, but opened at $5.27. Frontier Group shares last traded at $5.25, with a volume of 511,471 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ULCC. Citigroup increased their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Evercore ISI upped their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, Barclays raised their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.52.

Frontier Group Price Performance

The company has a market capitalization of $1.25 billion, a PE ratio of -138.72 and a beta of 2.51. The firm’s 50 day simple moving average is $5.78 and its 200 day simple moving average is $4.96. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last released 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 business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 81.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ULCC. Vanguard Group Inc. grew its position in shares of Frontier Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock valued at $33,384,000 after purchasing an additional 60,943 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Frontier Group in the 1st quarter valued at about $345,000. Price T Rowe Associates Inc. MD boosted its stake in Frontier Group by 11.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after acquiring an additional 2,746 shares in the last quarter. SkyView Investment Advisors LLC grew its position in shares of Frontier Group by 15.9% during the first quarter. SkyView Investment Advisors LLC now owns 274,665 shares of the company’s stock worth $2,228,000 after acquiring an additional 37,644 shares during the last quarter. Finally, Boston Partners increased its position in Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after acquiring an additional 672,471 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.